One of the biggest asset managers in the United States and major investor in the gold market, VanEck, is now entering the Bitcoin.The investment giant is currently managing an estimated amount of $38 billion in assets. The firm which was founded in 1955, has offices in the United States, Germany, and Australia, which in recent years has focused on precious metals like gold, silver, and platinum.
The market capitalization of Gold is about $7 Trillion, compared to the market cap of Bitcoin which is a little over $71 billion, Bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the Bitcoin market.
Absolutely true. Bitcoin is catching the eyes of other investors because it is now more profitable. It became more of a good investment because of its high market demand and market value. VanEck is a huge company and wants to earn profit surely on investment. They are speculating the future of Bitcoin to be a better investment that will give all of its investors, high returns with less risk if the demand on Bitcoin will continue rising.