Jan van Eck, the CEO of VanEck, a prominent investment management firm with $76.4 billion in assets under management, recently expressed his firm belief in Bitcoin’s enduring status as the premier store of value on the internet. In a December 16 interview with CNBC, van Eck stated, “I think it’s impossible for me to imagine some other internet store of value [will] leapfrog Bitcoin.”
Van Eck dismissed the notion that Bitcoin is in a “bubble,” arguing that no asset in a bubble has consistently outperformed itself in every market cycle. He views Bitcoin as a rapidly maturing asset, saying, “Bitcoin is the obvious asset that is growing up in front of our eyes.”
Looking ahead, van Eck anticipates Bitcoin reaching new all-time highs within the next 12 months. He and his late father, John van Eck, who founded the firm in 1955, have a long history of investing in stores of value. Van Eck sees Bitcoin as a complement to gold, a sector in which the firm has been a pioneer. Under John van Eck’s leadership, VanEck launched the first gold fund in the United States in 1968.
VanEck is currently one of 13 contenders vying for an approved spot Bitcoin exchange-traded fund (ETF) in the United States. The CEO expects that when approval comes, it will be granted simultaneously to all spot Bitcoin ETF applicants.
ETF analysts are closely watching the Securities and Exchange Commission (SEC), which is expected to make a decision on several pending spot Bitcoin ETF applications between January 5 and 10. Other major players awaiting the SEC’s decision include BlackRock, Grayscale, Bitwise, WisdomTree, Invesco, Galaxy, Fidelity, and Hashdex.
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