VanEck's Matthew Sigel Forecasts Bitcoin to Reach $100K Next Year

VanEck asset manager's digital assets research head Matthew Sigel has forecasted that Bitcoin could reach $100,000 next year. Speaking in an interview with CNBC, Sigel noted that Bitcoin's volatility has decreased by about 50% compared to four years ago. He stated that excessive government debt and ongoing fiscal concerns are supporting Bitcoin prices. Sigel added that the likelihood of policymakers quickly resolving unsustainable fiscal structures is low, and if liquidity further eases, Bitcoin's upward trend could strengthen. Currently, a range of institutions from investment advisors to sovereign wealth funds are buying Bitcoin, while the options market shows higher premiums for put options over call options. Short covering due to the U.S. Treasury's bond buyback program is also influencing the market.