Analysts from investment management company VanEck today issued a bullish outlook for Bitcoin , convinced that the digital asset could reach $500,000 in the near term. An analysis report prepared by Mathew Sigel , a senior researcher at VanEck, and his team today revealed that the cryptocurrency is poised to gain 5x in the medium term, indicating a realistic $500,000 reach by 2030 to 2035.
Why VanEck is bullish on BTC
The VanEck data pointed out that BTC is still in the early stages of a bull market, with indicators showing it is in the beginning of a new upward cycle. The analysts believe the asset will reach half of Gold’s market cap, around $14 trillion, in the near term by 2030-2035, putting its price at $500,000 by this time.
As per VanEck, capturing half of gold’s market capitalization requires about a 5.6x rise from the current BTC price, giving it a target period of between 5 to 10 years, not necessarily within the current cycle.
The comparison comes as Bitcoin is demonstrating massive strength, outperforming gold amid macroeconomic changes and surging bond yields that have hampered investor interest in precious metals. In the recently concluded third quarter, Bitcoin rose over 40%, outperforming the S&P 500 and gold. The recent impressive milestone shows that the digital asset is open to reclaim its $100,000 mark soon.
Debasement trade returns as government debt rises
According to VanEck, while the debasement trade is benefiting both gold and Bitcoin, the flagship cryptocurrency is gaining the upper hand and drawing in significant user interest. The analyst’s long-term outlook is based on developments associated with Bitcoin adoption from younger customers in emerging markets and steady rising accumulation from global institutions.
These catalysts place Bitcoin on the path to reach 50% of gold’s market cap within 5 to 10 years and hit $3 million in price by 2050. Such bullish scenarios put the asset in a range of $300,000 to $5,000,000 by 2035, based on assumptions that institutional adoption and generational wealth transfer stay intact.
