Gold rally implies $644K per Bitcoin in ‘equivalent value’ — VanEck

Analysts believe Bitcoin could reach an equivalent value of $644,000 if it reaches half of gold's market cap by its next halving in 2028. Matthew Sigel, head of digital asset research at VanEck, pointed out that the rise in gold prices, now exceeding $4,000 per ounce, is a significant factor. Historically viewed as a safe haven, gold's market performance has outpaced Bitcoin this year, increasing by 50%. Sigel noted younger investors are increasingly turning to Bitcoin as a store of value instead of gold, signaling a shift in traditional perspectives. Veteran trader Peter Brandt also indicated that gold could rise further, and Bitcoin would need to reach approximately $148,000 to match its previous highs relative to gold. Joe Consorti, from Bitcoin custodian Theya, estimated that Bitcoin's fair value floor has been raised to $1.34 million due to the surge in gold's price.

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