Written by Helen Partz⁠, Staff Writer. Reviewed by Bryan O’Shea⁠, Staff Editor.

Written by Helen Partz⁠, Staff Writer.

Reviewed by Bryan O’Shea⁠, Staff Editor.

VanEck’s Sigel sees Bitcoin reaching $1M within five years

Latest NewsPublishedMay 7, 2026

VanEck’s Matthew Sigel says Bitcoin may reach $1 million in five years, comparing adoption trends to the video game industry’s shift to mainstream utilize.

Matthew Sigel, head of digital assets research at investment manager VanEck, stated he sees Bitcoin (BTC) reaching seven figures within the next five years.

“Bitcoin going up for us is the base case. We think this asset is going to reach a million dollars over the next several years,” Sigel stated on CNBC’s Halftime Report on Wednesday.

Sigel later clarified that BTC is likely to reach that threshold in “half a decade,” comparing Bitcoin’s adoption to the video game industry’s, where usage has expanded across age groups after initially being limited to younger users.

“It’s going to be like the video game industry, where 30 years ago it was just kids playing video games, now Elon Musk plays video games,” he stated.

Sigel’s latest projection aligns with VanEck’s base-case model, which estimates Bitcoin could reach $2.9 million by 2050, underscoring a longer-term bullish outlook despite periods of market volatility.

Bitcoin is a “mega trend,” but marked by volatility

Despite a highly bullish outlook, VanEck’s Sigel emphasized that Bitcoin is a “very cyclical asset,” saying its path toward $1 million would not be a steady upward move.

“There are no bailouts in Bitcoin, so it’s going to be cycles along the way,” Sigel stated, hinting at the absence of a central authority to stabilize prices during market downturns.

Source: Matthew Sigel

“We have the first central bank buying Bitcoin for its reserves, so this is a mega trend, but it will be very volatile along the way,” Sigel added.

Near-term market positioning is negative

Addressing Bitcoin’s near-term price action, Sigel pointed to the asset’s correlation with the Nasdaq reaching its highest level in five years, suggesting the current rally is largely driven by broader macroeconomic trends.

“What keeps us encouraged even at the current levels is that we’re not seeing the froth in the derivatives markets,” he stated, adding that the move appears to be driven primarily by short covering, indicating that overall positioning remains relatively bearish.

Bitcoin’s (BTC) all-time price chart. Source: CoinGecko 

Sigel’s take joins several similar views on Bitcoin’s price trajectory in the coming years, including predictions from Bernstein, Bitwise chief investment officer Matt Hougan, Jan3 CEO Samson Mow and Twitter co-founder Jack Dorsey, among others.

Cathie Wood’s ARK Invest’s 2030 Bitcoin price targets range from about $300,000 in a bear case to $710,000 in a base case and $1.5 million in a bull case, as reported by its Big Ideas 2025 model.

Related: Bitmine’s Tom Lee says ‘crypto spring’ has already begun

Some investors are more skeptical about Bitcoin’s adoption, though. Ray Dalio has stated Bitcoin could act as a store of value but questioned its ability to scale into a global reserve asset amid regulatory and sovereign currency risks. Others, including gold advocate Peter Schiff, have argued Bitcoin lacks intrinsic value and is unlikely to displace traditional safe-haven assets like gold, casting doubt on seven-figure price forecasts.

Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• VanEck
• Predictions
• Bitcoin Price
• Adoption
• Bitcoin

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