VanEck: Bitcoin May Rise to $100,000 Next Year, Fiscal Concerns Provide Support

BlockBeats news, September 18: Matthew Sigel, Head of Digital Asset Research at VanEck, said in an interview with CNBC that Bitcoin could rise to $100,000 next year, with concerns over government debt and fiscal sustainability supporting its price.

Bitcoin volatility has dropped by about 50% compared with four years ago, indicating a clear difference between this cycle and the previous one. Governments are currently broadly facing excessive debt problems, allowing Bitcoin to remain resilient. He also noted that the price of put options is significantly higher relative to call options, the U.S. Treasury buyback program has brought a large amount of short covering, and the current time window is relatively favorable for Bitcoin bulls.

Policymakers are unlikely to resolve the unsustainable fiscal situation, and if market liquidity eases further, it will provide a stronger boost to Bitcoin. VanEck's exchanges with institutional clients such as investment advisers and sovereign wealth funds show that these institutions are all buying Bitcoin.

VanEck also expects the stablecoin market to continue growing. Although stablecoin regulation has become law through the GENIUS Act, banking lobbying groups are still trying to renegotiate related arrangements. Previously, the U.S. Senate failed to advance the CLARITY Act, which aimed to establish a regulatory and market structure framework for crypto assets.