Bitcoin will reach $1 million in the next five years in a run that will mirror the rise of the gaming industry, according to VanEck Head of Digital Assets Research Matthew Sigel.
“When you look at the demographic trends and the intentions of young investors to allocate to Bitcoin, it’s going to be like the video game industry, where, 30 years ago, it was just kids playing video games, now Elon Musk plays video games,” Sigel told CNBC on May 6.
Don’t Miss:
- Investors With $1M+ Often Use Advisors for Tax Strategy — This Tool Matches You With One in Minutes
- Traders Are Flocking to Direxion ETFs — Targeting Tesla and Elon Musk’s Market Moves
Sigel also pointed to central bank buying of Bitcoin. While he did not specify the central bank, the Czech National Bank in November announced that it had bought Bitcoin for its test portfolio. The central bank has also made a case for a 1% Bitcoin allocation in reserves.
However, Sigel told CNBC that Bitcoin’s run to $1 million will not happen in a straight line.
“There’s no bailouts in Bitcoin, so it’s going to be cycles along the way,” he said.
Trending: See What AI Could Build for Your Portfolio — Try a Custom Index Now
Sigel’s remarks came as Bitcoin has edged higher in recent weeks, reaching a high near $83,000. He attributed the asset’s run to broader macroeconomic conditions, saying its correlation with the Nasdaq 100 index is at a five-year high.
Sigel expressed confidence that Bitcoin can continue higher, citing a lack of “froth in the derivatives markets.”
Sigel is not the only Bitcoin proponent with a long-term $1 million price prediction. Others include Bitwise investment chief Matt Hougan, Ark Invest‘s Cathie Wood and Strategy’s (NASDAQ:MSTR) Michael Saylor.
Read Next:
- 1.5M+ Users. $29M Raised. Pre-IPO Shares Still at $0.72 — Learn How to Invest Before the Deadline
- What If Your Investment Income Didn’t Rely Entirely on Market Swings? Some Investors Are Taking a Different Approach
Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, professional financial guidance, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.
Connect Invest
This post was originally published here
