Technology

VanEck CEO Labels Bitcoin As ‘Freedom’, Here’s Why – Crypto News

Published

10 months ago

July 26, 2024

Dripp

VanEck CEO Jan van Eck has doubled down on Bitcoin (BTC) freedom attributes drawing similar lines with gold in the past. As the crypto asset becomes more mainstream with institutional adoption, users are repositioning their investments with the launch of spot Bitcoin ETFs. The price increase and asset utility continue to rattle institutions.

VanEck CEO Says Bitcoin Is Freedom

VanEck CEO says he fully understands the description of Bitcoin as freedom as well as a comparison to gold. Speaking at the 2024 Bitcoin conference, the executive explained the origin of gold mutual funds in the United States including how it was illegal for Americans to hold gold as well as the company’s efforts.

“VanEck was founded in 1955, but we also started the first gold mutual fund in the United States in 1968 before the big inflationary run-up of the 70s, and there was the illegal for Americans to hold gold at the time…my mum is German and she was a refugee, she tried to flee the community secret police, so I get why Bitcoin, I get why freedom.”

The CEO also noted that Bitcoin was in his blood sparking wider community enthusiasm on social media spaces. He adds that Bitcoin was an evolving asset because not all areas so many investor classes haven’t joined. Personally he disclosed ownership of Bitcoin up to 30% of his portfolio while charging other investors amid the price bull run case.

Also Read: Ethereum ETF Shows Promise Despite Grayscale Outflows: Bloomberg Analyst

Institutional Demand See Widespread Adoption

In the last decade, the asset’s adoption has soared due to heightened institutional demand. The launch of ETFs has seen new levels of inflows with commentators showing a stronger price action. While the asset’s price soared past $73,000, bulls project a higher price when macro factors swing positive.

In a recent report, VanEck wrote that by 2025, BTC could be used to settle 5% of the world’s domestic trade and 10% to global trade including a potential price of $2.9 million per coin.

Also Read: LUNC News: Terra Luna Classic Dev Reveals Severe Issues In Tax2Gas Review