VanEck just dropped research calling for $500K $BTC.

Their thesis? The gap between Bitcoin's market cap and gold's market cap.

Not a price target. A structural case.

What's wild: VanEck and other TradFi asset managers completely ignored this space 5 years ago. Now they're publishing bullish research and stacking $BTC ETFs.

That's not noise. That's institutional validation in real time.

The same firms that called crypto a scam are now building the bull case for half a million per coin.