VanEck released a new report on Bitcoin’s long-term capital market assumptions today, projecting strong growth over the next several decades and outlining how institutional investors might use the asset in diversified portfolios.

The report, authored by VanEck’s Head of Digital Assets Research Matthew Sigel and Senior Analyst Patrick Bush, models BTC reaching $2.9 million per coin by 2050 under a base-case scenario. 

This represents a 15% compound annual growth rate (CAGR) from today’s prices. The model assumes BTC captures 5–10% of global trade and becomes a reserve asset making up 2.5% of central bank balance sheets.

Bitcoin at $53.4 million per coin in…

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