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Investing.com – In an analysis posted to its site last week, global investment manager VanEck touched on the topic of cryptocurrency, sharing its long-term goals.
The manager has in fact posted a basic target of $11,848.62 for the price by 2030, and even envisages that the increase could reach more than $51,000 if certain conditions are met.
“We base these estimates on the thesis that Ethereum is becoming the dominant open-source global settlement network that hosts substantial parts of the trading activity of industries with the greatest earning potential by shifting their trading functions to public blockchains,” VanEck explained.
The company further claims that Ethereum is likely on its way to becoming a store of value asset, similar to Bitcoin.
“We believe that ETH, while not a complete store of value like the due to the demonstrated mutability of Ethereum’s code and an evolving utility-driven social consensus, will nonetheless become a store of value asset for state actors that seek to maximize human capital (as opposed to bitcoin, which maximizes stranded energy)” the analysts indeed wrote.
Finally, it is important to point out that VanEck’s forecasts also envisage negative scenarios, although considered unlikely. For example, in one of the negative scenarios where Ethereum’s dominance in smart contracts drops to 15% could see ETH crash to $343 by 2030…