Jan Van Eck, CEO of VanEck Asset Manager, predicted in an interview with Barrons that the price of the first cryptocurrency would rise to $250,000.

“But that could take decades. It’s hard to set a time frame for that,” he said.

According to Van Eck, bitcoin has a bright future and should reach half the market cap of gold, which is about $10.6 trillion.

CEO VanEck noted that the first cryptocurrency was gradually adopted by institutional investors and governments of different countries. He also highlighted the benefits of blockchain to increase efficiency and reduce risk in the financial system.

According to Van Eck, investors should direct 0.5%-3% of the capital to bitcoin, but he has reserved more due to his belief in the asset’s success. The senior executive has also owned Ethereum since 2019 and is optimistic about the prospects for the altcoin.

“I like the idea of ​​buying something, putting it in your portfolio and not worrying about it,” he added.

Regarding the Bitcoin ETF, the head of VanEck said that he does not want to approve the vehicle before the US Securities and Exchange Commission receives authorization on cryptocurrency exchanges. He was skeptical of the adoption of the relevant bill in 2022 due to the US Senate elections.

Earlier, MicroStrategy president Michael Saylor described Bitcoin as “the most reliable thing in an unstable world”.

Recall that in early June, Arthur Hayes, co-founder of the BitMEX cryptocurrency derivatives exchange, said that digital gold prices have reached the end of the current cycle.

At the end of May, JPMorgan analysts described Bitcoin’s fair price as $38,000.