VanEck: Bitcoin may still continue to expand its market share, and quantum computing is currently not enough to be a reason to sell.

BlockBeats news, October 3rd — Matthew Sigel, head of digital asset research at VanEck, said in an interview that as the artificial intelligence industry develops rapidly, the electricity resources and long-term power contracts held by Bitcoin mining companies are gaining new value.

Sigel said that in the past, the core assets of Bitcoin mining companies were mainly viewed as computing power and BTC production capacity, but the demand from AI data centers for large amounts of stable electricity resources is changing the market's valuation of mining companies' power contracts. He said that some mining companies have signed 10- to 20-year long-term power leasing agreements with investment-grade counterparties, and such contracts are giving mining companies "optionality" value distinct from simple BTC exposure. The development of the AI industry is making electricity an increasingly scarce resource, and mining companies with low-cost, long-term locked-in power supply may therefore gain new business opportunities, including transitioning toward AI infrastructure.

In the Bitcoin market, there are currently signs of seller fatigue, and he believes investors should pay attention to opportunities after pullbacks. In addition, Sigel also compared the positioning of gold and Bitcoin in investment portfolios, arguing that Bitcoin may still continue to expand its market share in the future, and discussed the potential impact of quantum computing on the Bitcoin network. He said that quantum computing is a long-term risk that needs attention, but it is currently not enough to be a reason for investors to sell BTC. VanEck has long been bullish on the trend of Bitcoin adoption and regards Bitcoin's market capitalization reaching a certain proportion of the gold market's size as one of the reference directions for future valuation.