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【VanEck: Bitcoin Could Rise to 100000 USD, Fiscal Concerns Provide Support】
Matthew Sigel, head of digital asset research at VanEck, said in an interview with CNBC that Bitcoin could rise to 100000 USD next year, with concerns over government debt and fiscal sustainability supporting its price. Bitcoin volatility has declined by approximately 4 compared with 50%years ago, indicating significant differences between the current cycle and the previous one. Governments currently generally face excessive debt, enabling Bitcoin to maintain its resilience. He also noted that put options are significantly more expensive than call options, the U.S. Treasury buyback program has triggered substantial short covering, and the current window is relatively favorable for Bitcoin bulls. Policymakers are unlikely to resolve unsustainable fiscal conditions; if market liquidity becomes more accommodative, it will provide stronger momentum for Bitcoin. Exchanges between VanEck and institutional clients, including investment advisers and sovereign wealth funds, indicate that these institutions are all buying Bitcoin. VanEck also expects the stablecoin market to continue growing. Although stablecoin regulation became law through the 《 Act, banking lobbying groups are still attempting to renegotiate the relevant arrangements. Previously, the U.S. Senate failed to advance the 《 Act, which was intended to establish a regulatory and market-structure framework for crypto assets.
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