Matthew Sigel named the condition for Bitcoin to rise to $3 million.

Matthew Sigel, Head of Digital Assets Research at VanEck, stated that Bitcoin could rise to $3 million by 2050 if it achieves widespread adoption in global trade and energy markets. VanEck’s valuation is based on a "ten-year economic horizon." The firm continues to view the leading cryptocurrency as a hedge against the devaluation of the dollar. Sigel cited growing interest in the asset from younger investors and "certain nation-states" as additional factors. VanEck sees a level of around $500,000 as a more immediate target for Bitcoin. The forecast assumes that Bitcoin’s market capitalization will reach roughly half that of gold—a milestone Sigel suggests could occur within the current or next market cycle. Sigel noted that Bitcoin is roughly three times as volatile as gold, which is why corporate investors typically allocate a smaller portion of their portfolios to it. However, Bitcoin is easier to move across borders, as transferring the asset does not require the physical transport involved with gold bars. VanEck anticipates that large miners holding long-term electricity supply contracts could redirect capacity back to mining—away from AI-related tasks—should the price of Bitcoin rise. The head of research also suggested that the threat of quantum computing should not be viewed as a reason to sell off Bitcoin. He pointed out that this potential threat affects not only the leading cryptocurrency but also a significant portion of modern software, and that developers are "already addressing the issue." Previously, Sigel stated that the likelihood of a sharp drop in Bitcoin’s price during the current market cycle remains low, as there are no underlying conditions to trigger such a decline.