The bull market is in full swing, and Bitcoin (BTC) reached a major milestone last weekend by breaking the $80,000 mark. According to crypto experts, this rally could continue for quite some time.
Jan van Eck, CEO of asset management firm VanEck, shared a remarkably optimistic prediction in an interview with CNBC: he expects Bitcoin to rise to a value of $300,000.
Bitcoin price: What does it take for $300,000?
To reach the price of $300,000, Bitcoin still needs to experience significant growth. The current price is $82,220, after an increase of 3.7% in the last 24 hours. A jump to $300,000 requires a price increase of more than 265%. This would bring Bitcoin’s market cap to a staggering $6 trillion.
Bitcoin on its way to gold value
In his interview with CNBC, Jan van Eck explains that Bitcoin could eventually equal about half the value of gold. According to him, this would result in a price target of $300,000 per Bitcoin.
“I think BTC will reach an all-time high today, and I expect it to continue to rise. Ultimately, I believe the value of Bitcoin will be approximately half of all gold outstanding. That equates to a price of approximately $300,000.” said Van Eck.
Optimism around BTC price due to election result
Van Eck’s forecast is significantly higher than most market analysts, who often maintain price targets between $100,000 and $200,000. Although he doesn’t provide a timeline, the VanEck CEO emphasizes that Bitcoin has strong momentum with current market dynamics.
Donald Trump’s recent win in the American presidential elections adds to the optimism. Regulations around crypto are expected to become friendlier, which could be beneficial for blockchain innovation and further adoption in the sector.
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