According to Matthew Sigel, Head of Digital Assets Research at VanEck, Bitcoin (BTC) is still “under-exposed” to corporate adoption, but he believes it might reach $180,000 during current bull cycle.
Sigel recently discussed his positive prognosis in an interview with host Natalie Brunel on the Coin Stories podcast. He based his prediction on important factors like funding rates, unrealised earnings, and increasing retail speculation. VanEck, which has been optimistic about Bitcoin since 2017, still believes there is a lot of room for growth. Sigel did stress that there are still significant obstacles to corporate adoption of Bitcoin.
Sigel noted that traditional asset managers have been sluggish to include Bitcoin into their strategies, especially those that are owned by big banks and brokers like Morgan Stanley and Merrill Lynch. Tightly regulated structures and dependence on traditional asset allocation methodologies, including the 60-40 portfolio split, are the causes of this hesitancy. Even if Bitcoin exchange-traded funds (ETFs) are becoming more popular, Sigel pointed out that about 80% of BTC ETF holders are still high-net-worth or retail investors seeking to diversify their holdings or increase their current holdings. Conversely, institutional asset managers have not yet taken any notable action in this area.
The Rise of Bitcoin to $180,000
Sigel’s audacious forecast coincides with growing optimism in the cryptocurrency sector. Due to macroeconomic variables and growing institutional interest, Bitcoin jumped to $107,780.58 on December 16. Sigel emphasised that the main factors influencing the bullish sentiment were Bitcoin’s use as “digital gold” and its use as an inflation hedge. He clarified that Bitcoin acts as a hedge against threats such as asset seizures and government-led currency devaluation, which are problems that are especially common in nations with double-digit inflation.
VanEck’s Prominent Position in the Crypto Industry
VanEck continues to lead the way in the development of digital assets as one of the most active companies in the introduction of crypto-related products, such as Bitcoin ETFs. Investors seeking exposure to Bitcoin have been influenced by the company’s research and insights, which have greatly influenced institutional sentiment. Even if Bitcoin is now underrepresented among corporate users, Sigel’s predictions demonstrate VanEck’s ongoing faith in the cryptocurrency’s long-term prospects.
Sigel thinks that the combination of growing retail interest, macroeconomic instability, and Bitcoin’s distinctive value proposition will drive its price to new heights during current bull run, even while institutional engagement is still in its early stages.
