tl;dr
VanEck CEO Jan van Eck predicts that Bitcoin's market cap will eventually reach at least half of gold's market cap, which is currently at approximately $15.7 trillion. He believes it could take five to ten years for traditional finance to drive Bitcoin's market cap to $7.85 trillion. Van Eck notes t...
VanEck CEO Jan van Eck predicts that Bitcoin's market cap will eventually reach at least half of gold's market cap, which is currently at approximately $15.7 trillion. He believes it could take five to ten years for traditional finance to drive Bitcoin's market cap to $7.85 trillion. Van Eck notes that institutional investors are still hesitant about Bitcoin but suggests that there is growing interest outside the United States due to Bitcoin being outside the control of SWIFT.
The chief executive of the financial giant VanEck believes that Bitcoin’s (BTC) market cap will eventually soar to at least half of gold’s market cap. In a new interview with Scott Melker, VanEck CEO Jan van Eck says that it could take up to a decade for traditional finance (TradFi) to help drive Bitcoin’s market cap to $7.85 trillion. The current gold market cap is at approximately $15.7 trillion. Meanwhile, Bitcoin’s market cap is about $1.36 trillion.
“I say eventually become at least half the market cap of gold. So I think that takes another five or 10 years. Our TradFi clients are still very confused by Bitcoin, and they don’t want to talk about it, but their clients make them talk about it. So we have a long ways to go. And also buying activities is not helpful. They want to buy it at the tops and then it’s going to go to zero at the bottom. And so they’re bad at allocating… In the United States, there are a lot of firms, obviously in Europe as well, that allocate people’s portfolios for them. And so my hope is those allocators will be open-minded enough to consider gold or Bitcoin at the right time in the cycle and disciplined to take advantage of those trends for their clients, because I kind of give up that the end clients will get it.” He also believes there is an increasing appetite by investors outside of the United States to own Bitcoin because it is not under the purview of the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
“Investors outside the United States increasingly don’t want to be tied into SWIFT, in the US financial system and the political control that comes with it.” Bitcoin is trading for $69,020 at time of writing, up nearly 2% in the last 24 hours.
More about GameStop Corp
GameStop Corp Technical Analysis Summary
Company: GameStop Corp
Headquarters: Grapevine, Texas
Sector: Trade & Services
Industry: Retail-Computer & Computer Software Stores
Market Cap: $10.42 billion
Current Price: $1483.5
Dividend Yield: None
Price/Earnings Ratio: 0.02
EPS: 17.28
Beta: 0.0013
Volume: 5,272,800,000
Revenue: $6.38 billion
Operating Margin: 25.9%
Net Margin: -19.4%
More about C3 Ai Inc
C3 Ai Inc (C3)
Industry: Technology
Sector: Services-Prepackaged Software
Revenue: $3,657,986,000
Net Income: -$2.34 per share
EPS: $2.602
Dividend Yield: -0.901%
Market Cap: $310,582,000
Stock Price: $29.82
PE Ratio: 0
Beta: 0.196