Bitcoin Price To Hit $644K After Next Halving, Says VanEck Head

VanEck Head Predicts Bitcoin Price’s Ambitious Rally Post BTC Halving

Bitcoin has been making significant strides in the crypto market and reached a new all-time high of $125k recently. Building on this positive momentum, Matthew Segal, Head of Digital Asset Research at VanEck, forecasted the Bitcoin price’s potential surge to an ambitious $644,000 after the next BTC halving.

Matthew Sigel Predicts Bitcoin Price’s Post-Halving Surge

In a recent X post, VanEck Head Matthew Sigel shared his bullish anticipation for BTC. According to him, the Bitcoin price is set to reach a staggering high of $644,000 after the next halving event. Notably, Sigel bases his prediction on its potential to reach a market capitalization of approximately half of gold's value. His X post read,

“We’ve been saying Bitcoin should reach half of gold’s market cap after the next halving. Roughly half of gold’s value reflects its use as a store of value rather than industrial or jewelry demand, and surveys show younger consumers in emerging markets increasingly prefer Bitcoin for that role. At today’s record gold price, that implies an equivalent value of $644,000 per BTC.”

Significantly, his prediction carries more weight, considering its increasing adoption as a store of value, particularly among young consumers in emerging markets. Sigel’s forecast is further bolstered by the crypto’s recent surge to a new all-time high of $125k.

Exchanges See BTC Reserve Dip

Recently, Sigel put forward a major concern among exchanges, highlighting that they face declining BTC reserves. If this trend persists, Sigel warned that exchanges might face a crypto shortage.

He suggested that buying the cryptocurrency before the shortage hits could be a smart move. However, a user countered that this "scarcity narrative" has been circulating for four years, questioning the timing and validity of Sigel's prediction. However, he replied, "Well, I only got the calls from the exchanges today. I told them we aren't selling.”

BTC to Hit $1 Million? Brian Armstrong Explains

In a parallel development, Coinbase CEO Brian Armstrong has projected that the cryptocurrency will skyrocket to $1million by 2030. According to Armstrong, several factors will drive this surge, including the emergence of clear crypto regulations, such as the GENIUS Act, which will provide stablecoin operators with a framework to operate. He also expects international governments, including G20 countries, to adopt the coin, potentially starting with the US government's planned cryptocurrency reserve.

Additionally, Armstrong foresees increased institutional adoption through ETFs, such as Blackrock’s IBIT and ARK 21Shares’ ARKB, which will lead to an institutional supply shock due to the crypto's capped supply of 21 million coins.