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MainNewsVanEck CEO E...

VanEck CEO Expects New Bitcoin (BTC) All-Time Highs Amid Imminent Interest Rate Cuts – Here’s His Timeline


Dec, 17, 2023
2 min read
by The Daily Hodl

The CEO of global investment manager VanEck is anticipating new all-time highs for Bitcoin (BTC) ahead of a likely interest rate cut from the Federal Reserve.

In a new interview on CNBC Television, Jan van Eck says that Bitcoin, much like gold, is largely tied to interest rate cycles.

The veteran investor says that interest rates are “headed down,” which has historically been bullish for Bitcoin.

“It’s the macro. The stores of value that don’t generate interest – which is why investors like Warren Buffet don’t like them at all – but they behave really in relation to interest rates. That’s the big cycle, and interest rates are headed down, directionally speaking.

So the macro behind Bitcoin and gold are very strong. By the way, they kind of do perform similarly. They both peaked in 2021, they’ve both been rallying this year, obviously, Bitcoin way more than gold for different reasons.”

Despite Bitcoin being up nearly 170% on the year, Van Eck says that there are still significant gains to be had. The investor predicts new all-time highs within the next year, perhaps on the back of Bitcoin’s halving, which is expected for April of 2024 and will slash miners’ BTC rewards in half.

“No, [the big gains are not over] because it’s growing up. It’s like a child that’s growing up.

You can argue about it being in a bubble but… It bubbled in 2017 but then it hit all-time highs in 2021, so nothing has ever been a bubble that then has outperformed itself.

So I fully expect in this cycle – and you have this halving thing happening in April which is great technically for Bitcoin – I expect all-time highs in the next 12 months.”

Bitcoin is trading at $42,034 at time of writing.

I

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post VanEck CEO Expects New Bitcoin (BTC) All-Time Highs Amid Imminent Interest Rate Cuts – Here’s His Timeline appeared first on The Daily Hodl.

Read the article at The Daily Hodl

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MainNewsVanEck CEO E...

VanEck CEO Expects New Bitcoin (BTC) All-Time Highs Amid Imminent Interest Rate Cuts – Here’s His Timeline


Dec, 17, 2023
2 min read
by The Daily Hodl

The CEO of global investment manager VanEck is anticipating new all-time highs for Bitcoin (BTC) ahead of a likely interest rate cut from the Federal Reserve.

In a new interview on CNBC Television, Jan van Eck says that Bitcoin, much like gold, is largely tied to interest rate cycles.

The veteran investor says that interest rates are “headed down,” which has historically been bullish for Bitcoin.

“It’s the macro. The stores of value that don’t generate interest – which is why investors like Warren Buffet don’t like them at all – but they behave really in relation to interest rates. That’s the big cycle, and interest rates are headed down, directionally speaking.

So the macro behind Bitcoin and gold are very strong. By the way, they kind of do perform similarly. They both peaked in 2021, they’ve both been rallying this year, obviously, Bitcoin way more than gold for different reasons.”

Despite Bitcoin being up nearly 170% on the year, Van Eck says that there are still significant gains to be had. The investor predicts new all-time highs within the next year, perhaps on the back of Bitcoin’s halving, which is expected for April of 2024 and will slash miners’ BTC rewards in half.

“No, [the big gains are not over] because it’s growing up. It’s like a child that’s growing up.

You can argue about it being in a bubble but… It bubbled in 2017 but then it hit all-time highs in 2021, so nothing has ever been a bubble that then has outperformed itself.

So I fully expect in this cycle – and you have this halving thing happening in April which is great technically for Bitcoin – I expect all-time highs in the next 12 months.”

Bitcoin is trading at $42,034 at time of writing.

I

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post VanEck CEO Expects New Bitcoin (BTC) All-Time Highs Amid Imminent Interest Rate Cuts – Here’s His Timeline appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

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