Bitcoin to reach one million dollars within 5 years! VanEck: It will be like a video game, transforming from niche to mainstream

VanEck Digital Asset head Matthew Sigel predicts that Bitcoin will surge to $1 million within 5 years. This view is echoed by Donald Trump’s son and several analysts.

While the market is still debating whether Bitcoin can hold steady at $80,000, some on Wall Street have already set the target directly at $1 million. On Wednesday, Matthew Sigel, VanEck’s head of digital asset research, said Bitcoin could reach $1 million within the next 5 years.

In an interview with CNBC, Matthew Sigel said: “I believe it’s possible within 5 years.”

Once you look at changes in demographics and the strong willingness of young investors to allocate funds to Bitcoin, you’ll see that this goal isn’t out of reach.

Given that Bitcoin’s all-time high has never truly gone far beyond $126,000, calling for “$1 million” right now may sound somewhat far-fetched—but on Wall Street and in the crypto space, there are also plenty of industry players and analysts who hold similar views.

Just last month, Bitwise CIO Matt Hougan also floated a $1 million target price; and on Wednesday, Eric Trump—Donald Trump’s son—also publicly stated that he firmly believes Bitcoin will break through the $1 million mark. In fact, as early as 2024, VanEck CEO Jan Van Eck had already predicted that Bitcoin could rise to $300,000.

However, investors should note that this group of “Bitcoin super-bulls” often has its own interests closely tied to the coin’s price. Once the coin price skyrockets, the affiliated companies they hold will become direct beneficiaries.

Take Eric Trump as an example. He is a co-founder of American Bitcoin, a cryptocurrency mining and asset management company. And as the issuer of Bitcoin spot ETFs, VanEck will undoubtedly benefit a great deal from a strengthening Bitcoin price.

When asked why he is so confident about the “$1 million” target price, Matthew Sigel offered a very down-to-earth analogy:

It’s like the development history of the e-sports industry. 30 years ago, playing video games was just a pastime for kids; but today, even the world’s richest man, Elon Musk, is going crazy playing video games. Once people fall in love with playing games, they won’t easily quit. Similarly, people who deeply understand and have gotten involved with Bitcoin won’t easily jump off either. We’ve already seen central banks start to include Bitcoin in their reserves, so this is a super trend—only, the process will be very volatile.

• This article is reprinted with permission from: 《Block Beast》
• Original title: 《Like e-sports shifting from niche to mainstream! VanEck confidently predicts: Bitcoin will rise to $1 million in 5 years》
• Original author: Block Sister MEL