$200B investment firm makes bold Bitcoin prediction for 2028

Launched in 2009, Bitcoin (BTC) is the world’s first decentralized cryptocurrency.

While nobody took it seriously in the beginning, its limitless possibilities attracted investors from all walks of life and turned it into one of the world’s biggest assets.

The cryptocurrency, which was worth only a few cents in its initial years, hit the all-time high (ATH) of $126,080 on Oct. 6, 2025.

But the U.S. President Donald Trump’s tariff warning in October, coupled with the country’s war with Iran, sent Bitcoin crashing. Currently, it is trading 50% lower than the ATH.

But a Wall Street giant is still bullish on the cryptocurrency and recently issued a bold prediction for 2028.

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VanEck’s Matthew Sigel expects Bitcoin to be higher in a year

VanEck is a global investment management firm headquartered in New York City which held $199.1 billion in assets under management (AUM) as of March 31, 2026.

The investment firm’s head of digital assets research, Matthew Sigel, appeared on Scott Melker‘s The Wolf of All Streets podcast on July 5.

Sigel told Melker that he still expects Bitcoin to be “materially higher” in a year but cautioned that the market may need fresh catalysts before enthusiasm returns.

Rather than urging investors to buy aggressively now, the research head said he’s advising clients to gradually build their Bitcoin positions over the coming months.

“What I’ve been telling clients is that you want to have your full position by October (2026).”

His cautious approach reflects several unresolved risks, including uncertainty around crypto regulation in the U.S. ahead of upcoming midterm elections in November 2026.

“The front pages of the newspapers have not really grappled with what a blue sweep would mean for the pro-growth agenda, not to mention the crypto agenda,” he said.

Sigel also said institutional investors remain hesitant to expand beyond Bitcoin until regulators provide clearer rules for digital assets.

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Sigel predicts Bitcoin will surpass record high price by 2028

Despite those near-term uncertainties, Sigel remains extremely bullish about Bitcoin’s long-term outlook.

He pointed to growing sovereign adoption, noting that about 22 countries now either mine or hold Bitcoin, with that number continuing to rise each year.

It will take just a fundamentally positive catalyst for the market to get more excited about the cryptocurrency, he said. It could either be the progress on the CLARITY Act or the Strategic Bitcoin Reserve in the U.S.

Under such trends, Sigel expects Bitcoin to surpass its previous ATH by the first quarter of 2028.

“If Bitcoin’s not above its all-time high by Q1 2028, that forces a thesis rethink,” he said.

Sigel’s comments suggest VanEck continues to see Bitcoin’s long-term fundamentals intact, even as it expects investors to navigate regulatory uncertainty and political risks before the next major leg higher.

Bitcoin was trading at $61,693 at the time of writing, as per Decibel.

Related: SpaceX moves Bitcoin amid possible market crash

This story was originally published by TheStreet on Jul 8, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.