VanEck CEO Expects Bitcoin Price to See All-Time High in Next 12 Months
Gabor Gurbacs, the chief executive officer of VanEck, a leading digital assets manager, recently suggested that he expects the price of Bitcoin (BTC) to set a new all-time high in the next 12 months. He also noted that the leading digital asset, along with many other crypto assets, are still in their early stages and yet to be widely adopted.
Speaking to Bloomberg, Gurbacs said that Bitcoin’s current market cap is very low compared to other asset classes, noting that crypto assets had enough potential to keep on growing. He added that the crypto-asset space is still in its early stages and investors should be ready with longer time horizons.
Gurbacs then suggested that the price of Bitcoin should reach a new all-time high within the next 12 months. He reasoned that the stability of Bitcoin, its ability to remain valuable over long time frames, and its overall stability is what sets it apart from other digital assets, and also provokes an attractive investment thesis.
The VanEck CEO later noted that the primary use cases for Bitcoin are still limited to investments. However, he also acknowledged that this could change in the future as Bitcoin and other digital assets become more widely accepted. He added that Bitcoin’s transaction velocity is still relatively slow due to its relatively low block size.
Finally, Gurbacs concluded his comments by saying that he believes Bitcoin could reach mass adoption as a form of digital gold, noting that it makes perfect sense for investors to allocate their exposure to Bitcoin and other crypto assets within a portfolio.