As a seasoned investor with a background in gold mutual funds and having grown up with the experience of my mother being a refugee and her attempts to hold gold during a time when it was illegal, I fully resonate with the description of Bitcoin as a freedom asset. VanEck’s CEO, Jan van Eck, echoes my sentiments, drawing similarities between Bitcoin and gold during his speech at the 2024 Bitcoin conference.
Jan van Eck, CEO of VanEck, has strongly emphasized Bitcoin‘s (BTC) characteristics of freedom, drawing comparisons to gold in the past. With Bitcoin gaining mainstream acceptance among institutions, investors are shifting their resources as spot Bitcoin Exchange-Traded Funds (ETFs) come to market. The asset’s price surge and expanding utility have left a significant impact on traditional financial players.
VanEck CEO Says Bitcoin Is Freedom
At the 2024 Bitcoin conference, VanEck CEO expressed his comprehensive grasp of Bitcoin being viewed as a symbol of freedom and an equivalent to gold. In his speech, he recounted the history of gold mutual funds in the US, sharing how it was once forbidden for Americans to own gold and detailing VanEck’s initiatives.
“VanEck was established in 1955, yet we pioneered the first gold mutual fund in the US back in 1968 – a time when holding gold was against the law for Americans due to the impending inflation surge during the 70s. Personally, my mother is German and a refugee who escaped from her community’s secret police. This background helps me understand the appeal of Bitcoin, as well as the value of freedom.”
The CEO expressed his strong connection to Bitcoin, which in turn ignited greater excitement among the community on social media platforms. He further explained that Bitcoin’s evolution was ongoing as not all investor groups had yet jumped on board. The CEO revealed that he personally held up to 30% of his investment portfolio in Bitcoin during the price surge, urging other investors to follow suit.
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Institutional Demand See Widespread Adoption
Over the past 10 years, there has been a significant increase in the use of this asset as institutional interest has grown. The introduction of ETFs has led to increased investment with market analysts noticing more pronounced price movements. As the asset’s price surpassed $73,000, optimistic investors anticipate further price growth once favorable macroeconomic conditions emerge.
“According to VanEck’s latest analysis, Bitcoin could account for 5% of global domestic transactions by 2025 and up to 10% of international trades. The value of a single coin during that timeframe is projected to reach an impressive $2.9 million.”
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2024-07-26 19:02