According to CryptoPotato, Jan van Eck, CEO of VanEck, predicts that Bitcoin will reach a new all-time high within the next 12 months. VanEck was one of the first global financial companies to file for a spot Bitcoin ETF years ago. Van Eck believes that Bitcoin is a unique asset that will be extremely hard to duplicate or outdo, and he refutes the speculations that the asset is one big bubble.
Van Eck explained that he got interested in Bitcoin due to its similarities with gold, which led his firm to file for a spot Bitcoin ETF back in 2017. Since then, the company has faced numerous rejections and delays by the US Securities and Exchange Commission but continues to amend its applications. Just last week, it changed the ticker for its ETF proposal to HODL.
Van Eck sees similarities between the performances of gold and Bitcoin, as they tend to move in the same direction and have the same macro behind them. This, alongside the upcoming halving and the potential approval of ETFs, could propel Bitcoin's price higher. VanEck's CEO predicts a new all-time high above $69,000, registered in late 2021, to occur within the next 12 months.
Van Eck also refuted claims that Bitcoin is a bubble, pointing out that the cryptocurrency has outperformed itself several times already. He does not see another 'internet store of value' emerging to leapfrog Bitcoin in the future. Regarding criticism from JPMorgan CEO Jamie Dimon and other bankers about Bitcoin being used in criminal activities, van Eck said, 'Don't throw the first stone if you are associated with the bank or any other financial institution that's never been involved with criminals in one shape or the other. I will leave it with that.'