PANews reported on October 3 that according to the analysis of Matthew Sigel, director of digital asset research at investment management company VanEck, Bitcoin is currently in the early stages of a bull market and the market performance is strong. VanEck sets the mid-term goal of Bitcoin's market value reaching half of gold's market value (approximately US$500,000), and believes that in the long term, if Bitcoin can occupy an important share of global energy trade, its price is expected to reach US$3 million by 2050.
Sigel pointed out that the correlation between Bitcoin and gold has reached multi-year highs, and continued inflows from institutional investors through channels such as spot ETFs have provided support to the market. In addition, because Bitcoin mining companies possess scarce power resources in the AI economy, the value of their mining equipment and energy contracts has increased significantly, providing new opportunities for investors. Regarding the quantum computing risks that the market is concerned about, Sigel said that although this is a problem that needs to be solved, the community has begun to pay attention to it and actively respond to it, which does not constitute a reason to sell Bitcoin.