VanEck Head Of Digital Assets Predict Ethereum Can Hit $50k

In a recent interview on the Paul Barron Network, Matthew Sigel, Head of Digital Assets Research at VanEck, offered his perspective on the future potential and potential value of Ethereum.  

Did he just say $50K ETH???👀🤯 @matthew_sigel

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— Paul Barron Network (@paulbarrontv) July 12, 2024

From Visa to Apple: Ethereum’s Ambitious Journey

Sigel presented a series of price scenarios for Ethereum. Each of these was tied to real-world comparisons to that of large companies.

1. At $5,000 per ETH (previous cycle high), Ethereum would reach a market cap of $600 billion, comparable to Visa.
2. A $10,000 ETH would equate to a $1.2 trillion market cap, rivaling the combined value of Visa, Mastercard, and American Express.
3. In an “extreme bull case” of $50,000 per ETH by 2030, Ethereum’s market cap would hit $6 trillion, matching Apple and Google combined.

“ETH at 50K, wrap your head around that, about roughly a 20X return. That would be $6 trillion in market cap,” Sigel said.

Sigel stressed that these projections aren’t official price targets but rather a way to visualize Ethereum’s potential impact on the global financial landscape.

He noted that Ethereum is already processing transaction volumes similar to Visa, lending credibility to these comparisons.

The analyst suggested that for Ethereum to reach the $50,000 mark, it would need to make major inroads into the app store market share. This scenario assumes a 50% compound annual growth rate for Ethereum while tech behemoths remain stagnant.

While these projections may seem ambitious, Sigel doesn’t view them as overly aggressive. Instead, he stated that it is just a framework for understanding Ethereum’s potential role in reshaping the digital economy.

Also Read: Crypto Tycoon Justin Sun Debunks $69K Bitcoin Long Buy Myth