VanEck CEO Bullish on Bitcoin's Future Amidst ETF Anticipation
The chief executive officer of the investment management firm VanEck, Jan van Eck, cannot envision a scenario where Bitcoin (BTC) is overtaken as the dominant form of value storage on the internet. During an interview with CNBC on December 16th, Jan van Eck provided the following statement.
“There’s 50 million users of Bitcoin, so it’s got network effects.”
“I think it’s impossible for me to imagine that some other internet store of value [will] leapfrog Bitcoin.” The chief executive officer, who oversees assets worth $76.4 billion, also refuted allegations that Bitcoin is currently in a “bubble.”
“Bitcoin is the obvious asset that is growing up in front of our eyes.”
He explained that no asset has ever been in a bubble that continues to exceed itself throughout each market cycle. While this is going on, Van Eck anticipates that Bitcoin will reach all-time highs within the next year.
According to the chief executive officer of VanEck, he and his late father, John van Eck, who established the company in 1955, have a lot of value in investing in their “DNA.” He also believes that Bitcoin will become an “accompaniment” to gold in the future.
During the year 1968, John van Eck was the driving force behind the establishment of the first gold fund in the United States by Van Eck. In the United States, there are thirteen applications contending for the approval of a spot Bitcoin exchange-traded fund.
VanEck is one of those applicants. The company’s chief executive officer expects the Securities and Exchange Commission to accept all applications for spot Bitcoin exchange-traded funds on the same day. Sometime between January 5 and January 10, the Securities and Exchange Commission will decide on several spot Bitcoin ETF applicants.
BlackRock, Grayscale, Bitwise, WisdomTree, Invesco Galaxy, Fidelity, and Hashdex, along with other financial firms, are also waiting for a final decision from the SEC. ETF analysts predict that the SEC will issue a decision on these applicants sometime between January 5 and January 10.