The CEO of VanEck has declared expectations of historic peak levels for Bitcoin ahead of a possible interest rate cut by the U.S. Federal Reserve.
In an interview with CNBC, Jan van Eck stated that Bitcoin, like gold, is linked to interest rates and historically, declining interest rates have been favorable for Bitcoin.
Van Eck mentioned that macroeconomic factors are strong for both Bitcoin and gold, noting that both reached their peak in 2021 and have started rising this year, and that Bitcoin could climb much higher than gold for different reasons.
Despite Bitcoin’s approximate annual increase of 170%, Van Eck emphasized that significant gains could still be made and suggested that all-time highs could be seen after the expected Bitcoin halving in April 2024.
Finally, the CEO added that the Bitcoin halving technically is perfect for Bitcoin and that this event will take place in April, hence he expects the highest levels of all time in the next 12 months.