VanEck: ‘Ethereum price of $ 51,000 is possible’

Major global fund manager VanEck is extremely bullish on Ethereum, their latest forecast shows. In a new research report writes about the possibility that Ethereum could move towards $51,000 within a seven-year period (before the end of the decade) if certain circumstances arise.

Why do they expect this?

VanEck has these high expectations because they believe Ethereum has what it takes to become the dominant open-source global settlement network. In that role, Ethereum would attract a substantial portion of the commercial activity of various industries where there is great potential for the application of smart contracts.

“In a portfolio of comparable smart contract platforms, it feels like we own a collection of call options, with the dominant platform probably taking the largest market share,” said VanEck’s analysis.

So it seems that VanEck has a portfolio of different smart contract coins, in which Ethereum plays the largest role. Yet they are not closing their eyes to the possibility that other smart contract platforms will also become big.

Ultimately, they see three possibilities for Ethereum. The first is the most bearish scenario, in which Ethereum would reach a price of $343.29 in 2030. In the normal scenario, they foresee a price of $11,848.62 and in the bullish scenario, a price of $51,006.

Similarity to Bitcoin

In the research report, VanEck writes that Ethereum is on its way to becoming a kind of store-of-value asset, just like Bitcoin is. “Finally, we see Ethereum evolving into more than a transactional currency or a commodity such as oil or natural gas,” said VanEck.

According to VanEck, Ethereum is not as complete a store-of-value as Bitcoin. That’s because the past few years have proven that Ethereum’s computer code is quite subject to change.

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So far, that change has mostly been positive for Ethereum’s scarcity, but that could theoretically change. Bitcoin’s code is completely rock solid in terms of supply.

VanEck sees Ethereum primarily as a store-of-value to help human capital flourish in a society.

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