VanEck Executive: Bitcoin Could Return to All-Time High in the Next 12 Months

**May 10: VanEck’s Sigel Forecasts Bitcoin Retesting ATH in 12 Months** VanEck Digital Asset Research Director Matthew Sigel told CNBC Wednesday (May 10) he expects Bitcoin to retest its all-time high within the next 12 months. Citing BTC’s near 5-year high correlation with the Nasdaq, he noted the U.S. stock market’s resilience is fueling the current rebound. However, derivatives markets show little significant optimism—futures and options activity mostly reflects short covering and hedging demand, leaving room for downside potential from a contrarian perspective. Sigel also highlighted a central bank’s 2024 announcement that it will add Bitcoin to its foreign exchange reserves, framing this as a sign BTC is gradually evolving into a global asset for large-scale cross-border settlements (a “major trend,” he emphasized). On investment outlooks: - Optimistic about Bitcoin’s rising market dominance; - Mining firms are key beneficiaries of AI infrastructure integration—growth in AI businesses is reducing miners’ BTC selling pressure to raise capital; - Passage of the “CLARITY Act” could reignite altcoin sentiment, but institutional investors remain cautious on most altcoins due to regulatory and investor protection concerns.