VanEck's Sigel: Bitcoin Hits $1M Within Five Years

May 7, 2026 - 10:29

Matthew Sigel, who leads digital assets research at investment firm VanEck, told CNBC that bitcoin has a realistic path to hitting $1 million within the next five years. He pointed to two major forces behind the prediction: shifting demographic trends and the first-ever central bank purchase of bitcoin as a strategic reserve asset.

Sigel described the central bank move as a structural mega-trend that could reshape how governments and institutions view cryptocurrency. He argued that once one major central bank adds bitcoin to its reserves, others will likely follow, creating a domino effect. This, combined with younger generations who prefer digital assets over traditional gold, could drive demand far beyond current levels.

The analyst acknowledged that volatility remains a risk, but he emphasized that the long-term trajectory looks bullish. He noted that bitcoin's fixed supply of 21 million coins makes it increasingly scarce as adoption grows. Sigel's forecast aligns with a broader shift in institutional sentiment, as more firms and even some governments begin treating bitcoin as a legitimate store of value rather than a speculative gamble.

While a $1 million price target seems extreme to many, Sigel insists the math works out if adoption continues at its current pace. He did not specify exactly when within the five-year window the milestone might occur, but he expressed confidence that the trend is already underway.