VanEck CEO Jan van Eck remains optimistic about Bitcoin, despite its recent drop to around $50,000. In a CNBC interview, he noted that such corrections are common in bull markets and highlighted external factors like sales by the German government and the Mt. Gox settlement.
“It’s like fuel for Bitcoin and gold investors, the Fed easing. So it’s super bullish. Bitcoin got some selling from the German government, there was the Mt. Gox selling – short-term stuff. But we’ve seen only a 20% correction in the Bitcoin price, and that’s normal in a bull market. At VanEck, we say we’re holding, which is holding on for dear life. So we’re long-term investors, and all the [spot BTC] ETFs have seen inflows, including last month, when the price was down 10%. So it’s a drip from retail investors.”
Van Eck underscored the buoyancy provided by positive developments, such as the strong performance of spot Bitcoin ETFs and potential Fed rate cuts, affirming VanEck’s long-term bullish stance and ongoing inflows into Bitcoin ETFs, even during price dips.
Currently, Bitcoin is trading at $58,079, showing a slight increase.
