Bitcoin Won’t Hit $400,000 This Cycle, VanEck CEO Reveals Realistic Price Target

Jan van Eck, CEO of VanEck, discussed Bitcoin's potential trajectory, the US fiscal deficit, and broader financial markets in an interview with Mario Nawfal. Van Eck provided a conservative price target for Bitcoin in this bull run, estimating it could reach $150,000 to $180,000. He dismissed the notion that Bitcoin could reach $400,000 in the current cycle, suggesting this milestone might be achieved in the next cycle. Van Eck identified the US fiscal deficit as a significant concern for the markets, describing it as "the elephant in the room." He outlined two prevailing schools of thought in Washington regarding fiscal policy, one advocating for a $500 billion cut in government spending. Van Eck found it peculiar that despite a clear electoral outcome, there remains uncertainty about fiscal policy. He noted that the initial market reaction was negative for gold due to the possibility of government restructuring. Van Eck commented on geopolitical tensions, particularly the situation in Ukraine, but cautioned that such events can impact markets and are difficult to predict. He emphasized the importance of the regulatory environment for institutional interest in Bitcoin, noting a recent uptick in interest with the new regime. Van Eck expressed optimism about Bitcoin's maturation process, likening it to a child growing up, and revealed his personal investment in Bitcoin and gold. He addressed the correlation between Bitcoin and traditional markets, particularly the NASDAQ, admitting concern but hoping that Bitcoin's correlation will diminish.