VanEck: Bitcoin in early bull phase, long-term target is half of gold's market cap
- —VanEck says bitcoin is in the early stage of a bull market
- —Medium-term target: half of gold's market cap, around $500,000
- —Long-term target of $3 million by 2050 on energy trade share
- —BTC-gold correlation at multi-year high; ETF inflows support the market
Why it matters: A bullish call from a major asset manager reinforces the narrative and institutional demand via spot ETFs.
Source: PANews