Jan van Eck, the CEO of multi-billion dollar asset management firm, VanEck has expressed optimism that Bitcoin’s price will set a new all-time high within the next 12 months. Jan van Eck, whose firm is also in the race to launch a spot Bitcoin ETF in the United States, shared his prediction in a recent CNBC appearance.
Speaking during the interview, the VanEck CEO described Bitcoin as an asset “growing up right in front of us.” He drew comparisons between the digital asset and its older counterpart, gold, including how the price of both assets has rallied since the turn of the year.
However, Jan van Eck also stated the obvious point that Bitcoin had outperformed gold for a different reason, apparently referring to the anticipation of a spot Bitcoin ETF. He expects BTC to keep leading the race, with favorable dynamics such as a low-interest rate environment to drive Bitcoin’s price.
The VanEck CEO also outlined other factors that he believes put Bitcoin in line to surpass its all-time high of $69,000 set in November 2021. Specifically, he mentioned Bitcoin’s upcoming halving, set to reduce the supply of newly issued coins.
He said, “I fully expect in this cycle when you have this halving thing happening in April, which is great technically for Bitcoin. I expect all-time highs in the next 12 months.”
Bitcoin Has Defied Bubble Claims
Jan van Eck’s Bitcoin price prediction came alongside explanations offered by the VanEck boss on why BTC cannot be labeled a bubble.
He argued that even though the cryptocurrency had a bubble period in 2017, it has since recovered to set a new all-time high four years later. He noted Bitcoin’s remarkable recovery strength: “Nothing has ever been a bubble and then outperformed itself.”
At the time of writing, Bitcoin’s price is at $41,300, which is 39% below its 2021 highs. While the leading cryptocurrency has struggled in the past week, market sentiment remains largely bullish, with the first U.S. spot Bitcoin ETF potentially set to launch in January.
