Overview
- Matthew Sigel, VanEck’s head of digital assets research, told CNBC on Wednesday that Bitcoin reaching $1 million within five years is the firm’s base case, with the coin near $81,000.
- He said Bitcoin now moves in step with the Nasdaq at a five-year high and that options and futures show little froth, signaling gains driven by investors closing short bets.
- Sigel added that a central bank has bought Bitcoin for reserves, though he did not name the institution.
- The new outlook marks a sharp shift from CEO Jan Van Eck’s 2024 forecast that topped out at $300,000.
- Similar million‑dollar calls have come from Bitwise’s Matt Hougan and from Eric Trump, whose American Bitcoin venture could benefit if prices rise.