VanEck executives: Bitcoin is expected to return to historical highs in the next 12 months

Matthew Sigel, director of digital asset research at VanEck, said in an interview with CNBC that he expects Bitcoin to hit all-time highs again in the next 12 months. He pointed out that the current correlation between BTC and Nasdaq is close to a five-year high, and the resilience of U.S. stocks has driven this round of rebound. However, the derivatives market still lacks obvious optimism, and the futures and options markets are more reflected in short covering and safe-haven demand. Therefore, from a reverse perspective, the market may still have room for continuation. Matthew Sigel also said that this year a central bank has announced the inclusion of Bitcoin in foreign exchange reserves, which means that BTC is gradually shifting to global assets used for the settlement of large cross-border transactions. He believes that this is a major trend. In terms of investment direction, he expressed his preference for Bitcoin mining companies that have increased their market share and benefited from the trend of AI integration. He said that mining companies are becoming important beneficiaries of AI infrastructure. As AI business grows, the pressure on mining companies to sell BTC to raise funds is declining. In addition, Matthew Sigel believes that if the CLARITY Act is passed, it may reignite sentiment in the altcoin market, but institutional investors are still cautious about most altcoins due to regulatory and investor protection issues.