Matthew Sigel, Head of Digital Asset Research at VanEck, recently made headlines with an ambitious prediction for Bitcoin, forecasting a potential price of $3 million by 2050 if Bitcoin evolves into a global reserve asset. Based on VanEck’s proprietary model, Sigel attributes Bitcoin’s long-term growth prospects to its inverse relationship with the U.S. dollar and its positive correlation with money supply (M2) growth. During a CNBC interview, Sigel noted the potential impact of the upcoming U.S. election cycle, emphasizing that election outcomes could stimulate increased interest and capital flow into Bitcoin, as observed in the 2020 cycle.
In addition, Sigel highlighted that significant Bitcoin sales by governments, especially in the U.S. and Germany, have reduced some selling pressure, positioning the market for growth. He also pointed to emerging initiatives within BRICS nations, specifically Russia, where the government recently announced plans to channel sovereign wealth funds into Bitcoin mining and AI infrastructure across the bloc, potentially driving Bitcoin as a medium for international trade.
VanEck’s model predicts that with a modest 2% allocation of global reserves and a steady 16% annual growth rate, Bitcoin could realistically hit $3 million by mid-century. “Our forecast assumes Bitcoin’s role as a reserve asset within central bank holdings and global trade, supporting our $3 million target by 2050,” Sigel explained.
This projection follows VanEck’s previous, higher forecast, which estimated a possible valuation of $52.38 million for Bitcoin by 2050 under ideal conditions. VanEck, a major U.S.-based asset manager overseeing $107 billion, including $1.8 billion in digital assets, remains confident in Bitcoin’s transformative potential within the global financial system.
