Benzinga - by Murtuza Merchant, Benzinga Staff Writer.
Jan VanEck, CEO of investment management firm and spot Bitcoin ETF issuer VanEck, predicted Bitcoin (CRYPTO: BTC) future could eventually reach a market capitalization of at least half that of gold.
What Happened: In an interview with Scott Melker, he projected that this milestone could take another five to ten years to achieve.
“I say [Bitcoin will] eventually become at least half the market cap of gold. So I think that takes another five or 10 years,” VanEck stated.
This optimistic forecast underscores his long-term confidence in Bitcoin despite the current skepticism among traditional financial clients.
Van Eck highlighted the confusion and hesitation that many traditional finance (TradFi) clients still feel towards Bitcoin.
“Our TradFi clients are still very confused by Bitcoin, and they don't want to talk about it, but their clients make them talk about it,” he noted.
This suggests that while institutional acceptance is growing, there is still a significant learning curve and resistance to overcome.
One of the challenges, according to van Eck, is the poor timing of buying activities among investors.
“They want to buy it at the tops and then it's going to go to zero at the bottom. And so they're bad at allocating,” he said, pointing out the need for better investment strategies and discipline.
Also Read: Why Bitcoin Is Stuck In A Range And What Could Change That: 10x Research
In terms of portfolio allocation, van Eck emphasized the importance of financial advisors and allocators being open-minded.
“My hope is those allocators will be open-minded enough to consider gold or Bitcoin at the right time in the cycle and disciplined to take advantage of those trends for their clients,” he explained.
He expressed skepticism that end clients would grasp the potential of Bitcoin on their own without guidance.
Van Eck also touched on a growing trend among international investors who are seeking alternatives to the US financial system.
“Investors outside the United States increasingly don't want to be tied into SWIFT, in the US financial system and the political control that comes with it,” he said, highlighting a shift in global financial dynamics.
What’s Next: Industry leaders like Jan Van Eck will speak about the state of digital asset adoption at the Benzinga Future of Digital Assets event on Nov. 19.
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