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Bitcoin is on a structural path to reach $1 million per coin within the next five years, according to Matthew Sigel, VanEck’s head of digital assets research.
Speaking on CNBC’s “Halftime Report,” Sigel characterized the asset’s ascent as a “base case” driven by shifting demographic trends and its emerging role as a legitimate central bank reserve asset.
Despite Bitcoin and Ethereum trading down year-to-date, Sigel maintains a “constructive” view of the current price action, describing it as a short-covering rally rather than a derivative-fueled bubble. The executive noted that Bitcoin’s correlation with the Nasdaq has reached a five-year high, suggesting that recent gains are largely macro-driven.
“There’s no bailouts in Bitcoin,” Sigel cautioned, emphasizing that while the $1 million “mega-trend” is possible by 2031, investors should expect significant cyclical volatility along the way.
Sigel’s bullishness extends to the convergence of artificial intelligence and Bitcoin mining, highlighting firms like Hut 8 that are pivoting to AI infrastructure. This cycle is a core focus for VanEck’s digital asset strategies, which aim to smooth out the asset’s inherent price swings.
 
The $1 million forecast joins a growing sentiment of hyper-bullish institutional predictions. Ark Invest founder Cathie Wood recently reaffirmed her conviction in the apex cryptocurrency while lowering her 2030 price target to $1.2 million, down from an earlier $1.5 million.
Wood cited the rapid adoption of dollar-pegged stablecoins in emerging markets as having “usurped” some of Bitcoin’s intended utility. However, the founder is still optimistic, noting that institutional adoption and gold’s performance serve as leading indicators of the next major bull run.
Meanwhile, MicroStrategy Chairman Michael Saylor delivered an even loftier “endgame” prediction at the Bitcoin 2026 conference, forecasting a climb to $10 million per coin. Saylor’s thesis hinges on “digital credit”, which is a financial instruments that use Bitcoin as collateral, effectively turning the network into the world’s primary store of value.
At press time, Bitcoin is trading at $80,158, down 0.38% over the last 24 hours. The dip follows a technical rejection at the 200-day simple moving average near $83,300, compounded by U.S. economic data that has cooled hopes for imminent interest rate cuts.