[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/techloot.co.uk\/cryptocurrency\/vaneck-predicts-bitcoins-journey-to-3-million-by-2050-heres-how\/#BlogPosting","mainEntityOfPage":"https:\/\/techloot.co.uk\/cryptocurrency\/vaneck-predicts-bitcoins-journey-to-3-million-by-2050-heres-how\/","headline":"VanEck Predicts Bitcoin\u2019s Journey to $3 Million by 2050 \u2013 Here\u2019s How","name":"VanEck Predicts Bitcoin\u2019s Journey to $3 Million by 2050 \u2013 Here\u2019s How","description":"VanEck\u2019s Bitcoin Projection: $3 Million in Sight by 2050 Matthew Sigel, the digital assets research lead at VanEck, has issued a groundbreaking projection for Bitcoin’s future. In an interview with CNBC, Sigel shared that VanEck\u2019s predictive model suggests Bitcoin might soar to $3 million by 2050, provided it solidifies its position as a global reserve…","datePublished":"2024-10-29","dateModified":"2025-03-09","author":{"@type":"Person","@id":"https:\/\/techloot.co.uk\/author\/andre\/#Person","name":"Andrej Kovacevic","url":"https:\/\/techloot.co.uk\/author\/andre\/","image":{"@type":"ImageObject","@id":"https:\/\/techloot.co.uk\/wp-content\/uploads\/2017\/06\/techloot-editor-150x150.jpg","url":"https:\/\/techloot.co.uk\/wp-content\/uploads\/2017\/06\/techloot-editor-150x150.jpg","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Tech Loot","logo":{"@type":"ImageObject","@id":"https:\/\/techlootio.wpengine.com\/wp-content\/uploads\/2018\/09\/techloot-footer-logo.png","url":"https:\/\/techlootio.wpengine.com\/wp-content\/uploads\/2018\/09\/techloot-footer-logo.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/techloot.co.uk\/wp-content\/uploads\/2024\/10\/Screenshot_1820.jpg","url":"https:\/\/techloot.co.uk\/wp-content\/uploads\/2024\/10\/Screenshot_1820.jpg","height":568,"width":1135},"url":"https:\/\/techloot.co.uk\/cryptocurrency\/vaneck-predicts-bitcoins-journey-to-3-million-by-2050-heres-how\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=QUJNIMh3sMA#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=QUJNIMh3sMA","name":"This is a very bullish setup for bitcoin into the election, says VanEck's Matthew Sigel","description":"Matthew Sigel, VanEck head of digital assets research, joins 'Squawk Box' to discuss the state of crypto, market trend outlook, impact of election, and more.","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/QUJNIMh3sMA\/default.jpg","https:\/\/i.ytimg.com\/vi\/QUJNIMh3sMA\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/QUJNIMh3sMA\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/QUJNIMh3sMA\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/QUJNIMh3sMA\/maxresdefault.jpg"],"uploadDate":"2024-10-28T13:12:07+00:00","duration":"PT6M12S","embedUrl":"https:\/\/www.youtube.com\/embed\/QUJNIMh3sMA","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCrp_UI8XtuYfpiqluWLD7Lw#Organization","url":"https:\/\/www.youtube.com\/channel\/UCrp_UI8XtuYfpiqluWLD7Lw","name":"CNBC Television","description":"Turn to CNBC TV for the latest stock market news and analysis. 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In an interview with CNBC, Sigel shared that VanEck\u2019s predictive model suggests Bitcoin might soar to $3 million by 2050, provided it solidifies its position as a global reserve asset. This ambitious figure assumes a modest allocation of 2% within global reserves and anticipates a steady annual growth rate of 16%.Sigel highlighted several short-term factors that could support Bitcoin\u2019s rise. Notably, Bitcoin\u2019s inverse relationship with the US dollar and its positive connection with the growing money supply stand out. Sigel also noted that upcoming U.S. elections might echo the impacts of 2020, where Bitcoin\u2019s prominence surged after results were announced.Recent government-led Bitcoin liquidations in nations like Germany and the United States have eased selling pressures, while BRICS countries, especially Russia, are fueling infrastructure investments for Bitcoin mining and promoting the cryptocurrency’s use in global trade.Bitcoin ETFs in the U.S. See Major Capital InflowsBitcoin exchange-traded funds (ETFs) in the United States observed significant net inflows on Monday, totaling USD 479.35 million \u2013 the highest single-day inflow in two weeks. BlackRock\u2019s spot Bitcoin ETF, IBIT, led the market, gathering USD 315.19 million and extending its positive streak to 11 consecutive days, according to SoSoValue.Additionally, other major players like Ark and 21Shares received substantial capital inflows, with combined investments reaching USD 59.78 million. Fidelity\u2019s (FBTC) fund captured USD 44.12 million, while Bitwise and Grayscale also reported positive inflows of USD 38.67 million and USD 21.59 million, respectively.Bitcoin\u2019s price momentum continues, with the cryptocurrency reaching USD 71,200 \u2013 a 4.75% increase, marking a new high since June. Meanwhile, Ethereum ETFs displayed more caution, with U.S. Ethereum ETFs seeing a net outflow of USD 1.14 million. Grayscale\u2019s ETHE fund, in particular, reported a significant outflow of USD 8.44 million, though Fidelity and BlackRock achieved modest inflows, indicating a shift in capital preferences.Circle Partners with HKT to Develop Blockchain-Based Loyalty Programs in Hong KongCircle has partnered with HKT, one of Hong Kong’s leading telecommunications providers, to explore blockchain-based solutions for customer loyalty programs. In a statement on Tuesday, Circle detailed that the collaboration seeks to enhance interactions between merchants and customers using blockchain-based loyalty systems.Circle highlighted that its Web3 products, including programmable wallets, enable businesses to integrate digital assets and smart contracts into their commercial applications.HKT’s Digital Ventures CEO, Monita Leung, emphasized that the goal is to empower merchants with tools to build stronger relationships with their customers through innovative loyalty programs across Hong Kong.Circle co-founder Jeremy Allaire remarked that this partnership with HKT strengthens Circle\u2019s presence in Asia, particularly as it has expanded its reach by partnering with Coincheck in Japan, facilitating access to USDC.Canadians Remain Cautious About a Digital DollarWhile the Bank of Canada continues to explore a potential digital currency, consumer enthusiasm remains reserved. A recent survey showed that although 42% of Canadians expressed interest in a potential \u201cdigital Canadian dollar,\u201d the majority still prefers cash and card transactions for daily use.The study also found that fewer than 3% of Canadians have adopted cryptocurrencies for regular purchases, indicating a preference for traditional payment methods. To make a digital dollar more attractive, respondents pointed to security, reliability, ease of use, and privacy as essential factors, with offline functionality deemed crucial in emergencies where cash remains king."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Cryptocurrency","item":"https:\/\/techloot.co.uk\/cryptocurrency\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"VanEck Predicts Bitcoin\u2019s Journey to $3 Million by 2050 \u2013 Here\u2019s How","item":"https:\/\/techloot.co.uk\/cryptocurrency\/vaneck-predicts-bitcoins-journey-to-3-million-by-2050-heres-how\/#breadcrumbitem"}]}]