American investment firm VanEck made a very high valuation for Bitcoin and gold based on the extreme case that either becomes the reserve global currency.
VanEck is of the opinion that Bitcoin has double the upside of gold and could be worth as much as 4.8 million dollars per coin if it becomes the global reserve asset.
The soaring assessment for BTC came in a recent insights piece written by VanEck’s head of active EM debt Eric Fine and chief economist Natalia Gurushina, who tried to compare the price implications for gold and Bitcoin if either were to be adopted as the backing for global currency apparatus.
The post mentioned,
“Central banks are likely to change their reserve mix to the detriment of dollars (and euros and yen) and the enhancement of something else, to one extent or another […] As a result, some central banks — and private actors — will be diversifying their reserves.”
Notably, the investment firm has a stake in the digital asset industry with its Bitcoin Strategy ETF, which is a Bitcoin futures exchange-traded fund that has over thirty million dollars in total net assets. Recently, the firm also filed with the Securities and Exchange Commission to launch a new ETF that focuses on gold mining and digital asset mining firms.
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