Matthew Siegel, head of digital asset research at VanEck, predicts that Bitcoin (BTC) will reach $1 million per coin.
Sigel made the comments on CNBC’s halftime report. He described the path as cyclical and warned of major fluctuations along the way.
VanEck expects to generate $1 million in Bitcoin in 5 years
During the presentation, Siegel compared Bitcoin’s trajectory to that of the video game industry, where adoption, once limited to children, now includes all age groups.
“When you look at the demographic trends and the intentions of young investors to commit money to Bitcoin. It will be like the video game industry, where 30 years ago it was just kids playing video games, and now Elon Musk is playing video games.” He said. “People are not stopping; they are not leaving Bitcoin. We have the first central bank buying up Bitcoin for their reserves, so this is a huge trend, but it will be very volatile along the way.”
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When asked about the timeline for Bitcoin reaching $1 million, Siegel said that the milestone could be achieved within the next few years, perhaps in about five years.
A continued rise in bitcoin remains VanEck’s base scenario, he said. However, Siegel added that the origin’s path will still be cyclical.
“We think this asset will reach $1 million over the next few years, but it is a very cyclical asset. There are no bailouts in Bitcoin, so there will be cycles along the way,” the executive stated.
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Meanwhile, commenting on Bitcoin’s near-term price action, Siegel said that the cryptocurrency’s correlation with the Nasdaq has reached a five-year high, suggesting that the current rally is largely driven by… Broader macroeconomic trends.
He pointed out that the company’s conviction at current levels stems from the fact that there is no “foam in the derivatives market.” According to him, the rally appears to still be primarily supported by short covering, indicating that the overall market situation remains relatively bearish. He added that this setting continues to support a constructive outlook for Bitcoin.
Sigel projection alignment VanEck with Bitwise Chief Investment Officer Officer Matt Hogan and Jan3 CEO Samson Mow. Hogan and Mao used different analytical frameworks to arrive Those seven-figure scenarios.
Bitcoin would need to rise more than 12-fold to achieve the $1 million target. At press time, the asset was trading at $81,042, down about 0.30% over the past day. Even reclaiming the October 2025 record of over $126,000 would be enough It only covers a small portion of that distance.
this post VanEck joins Bitwise in predicting a $1 million Bitcoin price target appeared first on BeInCrypto.
