VanEck CEO expects Bitcoin (BTC) to reach new all-time highs amid impending interest rate cuts – here's his timeline

The CEO of global investment manager VanEck expects new all-time highs for Bitcoin (BTC) ahead of a likely rate cut by the Federal Reserve.

In a new interview on CNBC Television, Jan van Eck says that Bitcoin, like gold, is largely tied to interest rate cycles.

The veteran investor says interest rates are “going down,” which has been positive for Bitcoin in the past.

“It’s the macro. The stores of value that don't generate interest – which is why investors like Warren Buffet don't like them at all – actually behave in relation to interest rates. This is the great cycle and interest rates are trending downward.

So the macro behind Bitcoin and gold is very strong. By the way, they work somewhat similarly. Both peaked in 2021, both have seen a rally this year, obviously Bitcoin is far stronger than gold for different reasons.”

Although Bitcoin is up nearly 170% year-over-year, there are still significant gains, according to Van Eck. The investor predicts new all-time highs within the next year, possibly due to the Bitcoin halving, which is expected in April 2024 and will halve miners' BTC rewards.

“NO, [the big gains are not over] because it's growing up. It's like a child growing up.

You can argue that it's a bubble, but… there was a bubble in 2017, but then it hit all-time highs in 2021, so there's never been a bubble that then topped itself.

So I expect that in this cycle – and there is this halving happening in April, which is technically great for Bitcoin – I expect all-time highs in the next 12 months.”

Bitcoin is trading at $42,034 at the time of writing.

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