The CEO of VanEck, a leading issuer of exchange-traded funds (ETFs), has revealed his price target for Bitcoin (BTC) and provided an update on his outlook for Ethereum (ETH).

In a recent interview with CNBC Television, Jan Van Eck stated that he believes Bitcoin’s market capitalization will eventually catch up to that of gold, resulting in BTC’s price surpassing $250,000. He added, “I think Bitcoin will hit all-time highs today, and I think it will go further. My basic premise is that ultimately Bitcoin’s value will be half of that of all the gold outstanding, so you’re talking about something like $300,000 for Bitcoin.”

Van Eck described his prediction of Bitcoin’s value reaching half of all outstanding gold as a “balanced” approach, in contrast to Bitcoin maximalists who may claim that it will surpass gold. At the time of writing, Bitcoin is trading at $81,236, representing a more than 5% increase in the last 24 hours.

Turning to Ethereum, Van Eck stated that he believes ETH will outperform during this cycle due to the increased global adoption of dollar-pegged crypto assets. He said, “I do think, however, that overall big picture, stablecoins are the new global payment system. And one of the big winners is going to be Ethereum and Coinbase as well. Ethereum’s market share kind of bottomed in September… So, it’s a bit of a contrarian play, Ethereum has outperformed over the last several weeks and I think it’s a good entry point for Ethereum if you understand the pros and cons of it.” As of now, Ethereum is trading at $3,202, representing a 2.17% increase in the last day.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at one’s own risk, and any losses incurred are the responsibility of the individual. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor.