Fueled by President-elect Trump’s victory and the stock market’s upward momentum, Bitcoin surpassed $80,000 on Sunday — a new all-time high.

Investors expect the cryptocurrency to reach six-figures sooner rather than later.

VanEck CEO Jan van Eck, in a TV appearance, predicted Bitcoin (BTC) could be valued as half of all the gold outstanding.

“I think Bitcoin will hit all-time highs today, and I think it will go further. Ultimately, I think bitcoin’s value will be half of all the gold outstanding, so you’re talking about around $300,000 for Bitcoin.”

Why only half?

Because it’s a “reasonable base assumption,” Van Eck added. Van Eck made the comment when Bitcoin surpassed $77,700 just days after the U.S. presidential election. See below.

Bitcoin bull run

Investors have been piling into ETFs, sending Bitcoin and Ethereum (ETH) on a bullish path.

Then there was crypto’s role in the 2024 U.S. presidential election, which went from cameo to scene-stealer. In the months leading up to Election Day, the mass media published one neck-and-neck poll after another. But Polymarket — a Go to Source to See Full Article
Author: Anthony Patrick