VanEck sees Bitcoin at $1 million by 2031 on rising Nasdaq correlation

VanEck’s Siegel: Bitcoin can hit $1M in 5 years; models $2.9M by 2050

Bitcoin trades just above $81,000. VanEck’s research head repeats a $1,000,000 five-year target in a CNBC interview here.

He says investors don’t walk away. “People don’t quit; they also don’t quit Bitcoin” CNBC.

• Frames Bitcoin’s “staying power” like the video game industry CNBC.
• Notes the first central bank has started buying Bitcoin for reserves, calling it a “mega trend,” with high volatility expected CNBC.
• Says Bitcoin’s correlation with the Nasdaq is at a five-year high, trading like a high-beta tech proxy CNBC.
• Sees little froth in derivatives; views the rally as short-covering driven rather than excess speculation CNBC.

He also set a longer view earlier this year. His model puts Bitcoin at $2.9 million by 2050 NewsBTC.

He ties it to two roles: medium of exchange and central-bank reserve asset. Assumes 5–10% of international trade and 5% of domestic transactions by 2050 NewsBTC.

In a stretch case, 20% of international trade and 10% of GDP would imply $53.4 million per coin, by his math NewsBTC.