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VanEck CEO drums up support for Bitcoin as a store of value

VanEck

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TL;DR

  • VanEck CEO Jan Van Eck has shown his support for Bitcoin as a store of value.
  • Defying the bubble narrative.

VanEck’s CEO, Jan van Eck, firmly asserts that Bitcoin’s position as the predominant store of value on the internet is unassailable. In a recent CNBC interview on December 16, van Eck, whose firm manages assets totaling $76.4 billion, stressed the improbable nature of any alternative digital store of value surpassing Bitcoin. He attributes Bitcoin’s enduring strength to its substantial user base, citing a formidable 50 million users and the resulting network effects.

VanECK CEO showers praise on Bitcoin

Refuting claims of a Bitcoin “bubble,” the CEO argues that Bitcoin defies the conventional bubble narrative, consistently outperforming itself in each market cycle. According to van Eck, Bitcoin is a maturing asset that is visibly evolving. He anticipates Bitcoin achieving all-time highs within the next 12 months, underlining its resilience and sustained growth. Highlighting the legacy of store-of-value investing in his family, van Eck notes that he and his late father, John van Eck, who founded the firm in 1955, have a deep connection to this investment philosophy.

Illustrating this historical commitment, VanEck pioneered the launch of the first gold fund in the United States in 1968 under John van Eck’s leadership. Van Eck envisions Bitcoin as a complementary asset to gold, further solidifying its role in the store-of-value landscape. Beyond these insights, VanEck finds itself among 13 contenders vying for approval to launch a Bitcoin exchange-traded fund (ETF) in the United States. Van Eck expresses confidence that all spot Bitcoin ETF applications will receive approval simultaneously.

Defying the bubble narrative

Analysts anticipate the U.S. Securities and Exchange Commission (SEC) to make decisions on these pending applications between January 5 and 10. Noteworthy applicants awaiting SEC approval include prominent names like BlackRock, Grayscale, Bitwise, WisdomTree, Invesco, Galaxy, Fidelity, Hashdex, and others. The regulatory landscape for spot Bitcoin ETFs stands on the cusp of potential transformation, with the SEC’s impending decisions carrying significant weight.

Van Eck’s optimism about simultaneous approvals reflects a broader industry sentiment, as multiple investment firms eagerly await regulatory clarity on their ETF applications. The outcome of these decisions could substantially influence Bitcoin’s integration into traditional investment portfolios and mark a pivotal moment in its journey toward mainstream acceptance. VanEck’s CEO, Jan van Eck, envisions Bitcoin as an enduring force in the digital store of value arena, supported by its growing user base and consistent market performance.

His perspective aligns with the company’s historical involvement in store-of-value investments, particularly with gold. The anticipation of all spot Bitcoin ETF applications being approved on the same day adds another layer of interest to the evolving narrative of Bitcoin’s mainstream acceptance and integration into traditional financial markets. As the SEC decisions loom, the cryptocurrency market and investment community eagerly await the potential catalyst that could shape the trajectory of Bitcoin’s role in diversified investment portfolios.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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