VanEck: "Bitcoin will reach $1 million in 5 years"

▲ Bitcoin (BTC)

A new prediction has emerged that Bitcoin (BTC) could reach $1 million within approximately five years. Matthew Sigel, Head of Digital Asset Research at VanEck, stated that Bitcoin could rise to $1 million in the long term, but significant volatility during this process is inevitable.

According to crypto media outlet BeInCrypto on May 7 (local time), Sigel appeared on CNBC's 'Halftime Report' and compared Bitcoin's long-term upward trajectory to the popularization process of the video game industry. Just as video games, once centered around children, have now spread to all age groups, Bitcoin can continue its long-term spread driven by young investors' allocation intentions and demographic changes.

Sigel stated that Bitcoin "will reach $1 million in the coming years," adding that this goal could materialize in roughly five years. While presenting Bitcoin's rise as VanEck's base scenario, he emphasized that the upward process will not be linear, as Bitcoin is a cyclical asset without bailouts.

Regarding short-term trends, he pointed out that the correlation between Bitcoin and Nasdaq has reached its highest level in five years. This was interpreted to mean that the recent Bitcoin rebound is not solely driven by intrinsic crypto demand but is significantly influenced by macroeconomic trends and stock market sentiment. However, Sigel analyzed that market positions are still leaning bearish, as there is no overheating in the derivatives market, and the recent rally appears to be primarily driven by short covering.

BeInCrypto reported that Sigel's forecast is in line with the $1 million scenarios from Bitwise Chief Investment Officer Matt Hougan and Jan3 CEO Samson Mow. Although the three used different analytical frameworks, all predicted that Bitcoin's long-term price could reach seven figures.

For Bitcoin to achieve the $1 million target, it needs to rise more than 12 times. BeInCrypto noted that even if Bitcoin recovers its previous high of over $126,000 recorded in October 2025, there is still a significant distance to the $1 million target. This forecast is closer to a bullish scenario predicated on Bitcoin's spread as an asset held by long-term investors, institutions, and central banks, rather than a short-term price prediction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*