Jan van Eck, the CEO of investment management firm VanEck, expressed his unwavering confidence in Bitcoin’s supremacy as a digital store of value.
In a CNBC interview on December 16, Van Eck asserted;
“I cannot fathom a scenario where any alternative internet-based store of value could surpass Bitcoin,”
Underscoring the substantial network effects of Bitcoin with its 50 million users.
VanEck CEO Backs Bitcoin, Envisions Digital Store Complement to Gold
Dispelling notions of a Bitcoin “bubble,” the CEO, overseeing $76.4 billion in assets under management, argued that no asset could be deemed in a bubble if it consistently outperforms itself in every market cycle. He underscored;
“Bitcoin is the evident asset maturing right in front of our eyes.”
Van Eck foresees Bitcoin attaining all-time highs in the next 12 months. He emphasized the enduring interest in store-of-value investing within VanEck, drawing from his family’s legacy, notably his late father John van Eck, who established the firm in 1955.
Drawing parallels to the company’s history, Van Eck envisions Bitcoin evolving. He sees it as a complementary asset to gold, echoing sentiments expressed during the introduction of the first U.S. gold fund in 1968.
VanEck and Other Industry Leaders Await SEC Decision on Bitcoin ETF Approval
VanEck stands among the 13 contenders vying for approval for a Bitcoin exchange-traded fund (ETF) in the United States. The CEO remains optimistic, anticipating simultaneous approval for all spot Bitcoin ETF applications.
Analysts anticipate decisions from the U.S. Securities and Exchange Commission (SEC). Moreover, the decisions on pending spot Bitcoin ETF applications are expected between January 5 and 10.
Prominent industry players, including BlackRock, Grayscale, Bitwise, WisdomTree, Invesco, Galaxy, Fidelity, Hashdex, and others, are eagerly anticipating the SEC’s final decision. This decision holds significant importance for the future of Bitcoin ETFs, and these stakeholders are closely monitoring the outcome.