Speaking at the Paris Blockchain Week event, Jan van Eck noted the growing anxiety in markets over the US budget and the recent surge in credit default swaps, which have been rising since 2023. Van Eck also noted the growing US national debt. Given these factors, investors will be looking to protect their funds, making Bitcoin and gold the most attractive options for them.
“I have a theory that markets are already starting to price in the big financial problems that could happen in the United States in 2025. Investors look at the two presidential candidates who are the biggest spenders in U.S. history and think, “They're unlikely to solve these problems, so give us some gold and some more bitcoin,” VanEck's CEO said.
Despite the speculative nature of investments in Bitcoin, since 2016-2017, “digital gold” has inspired more and more confidence in people, and in five to ten years Bitcoin will be able to reach at least half of the market capitalization of gold, Van Eck predicts. He also noted the rapid growth of stablecoins. The volume of transactions with stablecoins has already exceeded $12 trillion, and if it grows fivefold, this could have a strong impact on payment systems and banks, Van Eck is sure.
In mid-2022, amid a bearish trend in the crypto market, Van Eck made a bold prediction that Bitcoin would reach $250,000 within a few years. Late last year, a VanEck executive doubted that any other altcoin could overtake Bitcoin in market capitalization.
Source: Bits
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