VanEck CEO: Bitcoin is the Ultimate Store of Value
18 Dec, 2023 ● Crypto people
According to the CEO of investment management company VanEck, he does not see a scenario in which Bitcoin (BTC) loses its position as the most popular online store of value.
In a Dec. 16 interview with CNBC, Jan van Eck stated, "I think it's impossible for me to imagine some other internet store of value [will] leapfrog Bitcoin."
“There’s 50 million users of Bitcoin, so it’s got network effects.”
The CEO, who oversees $76.4 billion in assets, refuted claims that Bitcoin is in a "bubble" by pointing out that no asset has ever been in a bubble that keeps outperforming itself throughout each market cycle. He continued, saying:
“Bitcoin is the obvious asset that is growing up in front of our eyes.”
In the meantime, Van Eck believes that Bitcoin will reach record highs in the upcoming year.
According to the CEO of VanEck, store of value investing runs in the family. He and his late father, John van Eck, founded the company in 1955, and he sees Bitcoin serving as a supplement to gold.
Under John van Eck's leadership, VanEck established the nation's first gold fund in 1968.
VanEck is one of thirteen applicants vying to become the first approved spot exchange-traded fund for Bitcoin in the US.
The CEO of the company anticipates that all applications for spot Bitcoin exchange-traded funds will be accepted on the same day.
ETF analysts forecast that the Securities and Exchange Commission (SEC) will make decisions regarding a number of spot Bitcoin ETF applications that are still pending sometime between January 5 and January 10.
BlackRock, Fidelity, and other applicants are also awaiting the SEC's final decision.