Van Eck says Bitcoin is here to stay

Image for post
Image for post

Van Eck, the major New York City exchange-traded fund (ETF) provider remains confident that “Bitcoin is not going away.”

In a note it sent to its investors on Monday, the company’s Director for Digital Asset Strategy, Gabor Gurbacs, said that rather than expecting a decisive breakthrough or big “home run” for cryptocurrencies in 2019, look for the industry to continue hitting a number of “singles” with incremental, but major hits: “With bitcoin falling from $19,500 to $3,000, some of us may hope that this was indeed a fad and was safely behind us. Yet, there are solid developments from some major companies. The following is a list of recent singles, including announcements, launches, and events that collectively, can contribute to building out the digital assets markets.”

As CCN points out, there are currently 348 obituaries, but bitcoin is still going strong. Furthermore, Monday’s note from VanEck about bitcoin and cryptocurrencies is the anti-bitcoin obituary. Gurbacs and his colleague Kyle DaCruz see a future and long life ahead of bitcoin, and they base their assessment on recent events and actual details about the industry, unlike those who have predicted the end of bitcoin.

A blockchain platform that will take banking to another level

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store