VanEck CEO: Growing Fiscal Concerns in the USA

Jan van Eck, CEO of the global asset management firm VanEck and publisher of Bitcoin ETFs, observes increasing investor interest in Bitcoin and gold in the context of potential fiscal crisis in the United States.

According to van Eck, markets are beginning to price in potential fiscal problems in the USA, particularly in light of the two presidential candidates who are promising record spending. His theory suggests that in such a scenario, investors will turn to assets with established value, such as gold and Bitcoin.

Highlighting several indicators, van Eck emphasizes growing concerns about the US fiscal situation, including the increase in US credit default swaps and the advantage of local currency debts in emerging markets over US government debts.

Faced with these challenges, van Eck predicts that Bitcoin and gold will become increasingly attractive options for investors. While he acknowledges the speculative nature of Bitcoin investment, he believes that the growing narrative of "digital gold" and forecasts of Bitcoin reaching at least half the market capitalization of gold could attract investors.

Van Eck encourages investors to consider gradually investing in Bitcoin using the dollar-cost averaging method to manage risk.

In addition to Bitcoin, van Eck expresses enthusiasm for the rapid growth of stablecoins and other innovations in the cryptocurrency space. With a volume of $12 trillion today, van Eck believes that further growth could have significant implications for payment systems and banks.

In summary, van Eck highlights the growth potential of the cryptocurrency market and warns against the long-term prospects of most L2 tokens. His forecasts indicate the possibility of the Ethereum layer 2 market reaching a value of at least $1 trillion by 2030.

*This is not a financial advice