Growing Distrust in Banks and Media: VanEck CEO’s Take on Bitcoin’s Rise

• Jan Van Eck highlighted the increasing lack of trust in major U.S. institutions.
• Many people desire to have some of their wealth outside of the banking system.
• Central Banks may adopt Bitcoin as an alternative store of value.

VanEck’s CEO, Jan Van Eck, highlighted an increasing lack of trust in major institutions across the United States. The renowned asset manager made this statement during an interaction with Scott Melker, host of The Wolf Of All Streets podcast.

According to Van Eck, the growing distrust affects religious and military institutions in America, including the Congress. He said the most shocking among the distrusted institutions is the media, which is crucial to the financial markets.

Responding to Melker’s questions, Van Eck noted that many members of the public want to have some of their wealth outside the banking system because of the growing lack of trust in mainstream institutions. The investor’s analysis aligns with the data showing that 39% of Americans no longer trust the mainstream media, compared to 5% in the 1970s.

Meanwhile, Van Eck said the fragility of banks fuels the waning trust among citizens in the financial system. He highlighted how governments in Europe support the banks. The investment expert noted that the current banking structure forces financial institutions to depend on government bailouts.

The VanEck CEO predicted a fiscal problem in the U.S. in 2025. He said gold is rallying because investors are pricing in the predicted economic situation. He linked the 2025 target with the upcoming U.S. Presidential election, noting the government’s pattern of attempting to solve its fiscal problems a year after the elections.

Furthermore, Van Eck highlighted the predicted 2033 bankruptcy in social security as another catalyst for the evolving fiscal realities in the U.S. Considering these concerns, the investment expert used several fundamental indicators to show how U.S. citizens are preparing for the “2025 Problem.”

Citing examples from El Salvador and Saudi Arabia’s Bitcoin mining activities, Van Eck said more central banks may consider Bitcoin as an alternative store of value, similar to gold. This adds to the growing interest among individuals who are increasingly turning toward the flagship cryptocurrency.