VanEck researcher expects Bitcoin to reach $100,000 by next year

VanEck digital assets research head Matthew Sigel expects Bitcoin to reach $100,000 by next year. Sigel made the forecast on CNBC's Squawk Box Asia on Friday. Bitcoin traded at $77,403 on Friday. Bitcoin was up 1.26% on the day. Bitcoin was up more than 20% over the past month according to BeInCrypto Markets data. Bitcoin remained roughly 39% below its record of over $126,000 set on October 6, 2025. Sigel argued that over-indebted governments are supporting Bitcoin. He said volatility had fallen by half compared with four years ago. He pointed to traders paying more for puts than calls. He also pointed to the Treasury bond buyback program. Sigel said the program triggered heavy short covering. Sigel said policymakers were very unlikely to address the unsustainable fiscal dynamic. He said easier liquidity could accelerate Bitcoin's rise. Sigel said conversations with advisors and sovereign wealth funds showed that institutional clients were all buying. The Federal Reserve raised its benchmark rate by 25 basis points to a target range of 3.75% to 4% on Wednesday. The increase was the Federal Reserve's first since 2023. The Bank of Japan raised its policy rate to 1.25% on Friday. The rate was the Bank of Japan's highest since 1995. The Senate rejected cloture on the Clarity Act by a 49-50 vote on Tuesday. The vote stalled the market-structure bill. Sigel previously identified $100,000 as a target in April and August. He also identified a $500,000 target for 2029. Sigel outlined a longer-term case for $1 million within the next several years in May. Bitcoin needed a 29% gain from Friday's price to reach $100,000. The 2029 target required roughly 546%. The $1 million target was about 1,192% away.