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

Analysts predict Bitcoin could reach $644,000 as its value is projected to be half that of gold by its next halving in 2028, fueled by a recent surge in gold prices to nearly $4,000 per ounce. Matthew Sigel of VanEck asserts that Bitcoin's market cap should align with half of gold's after the next halving. The significant rise in gold reflects a move by traders seeking a safe haven amid economic uncertainties and a weakening US dollar. Young investors are increasingly leaning towards Bitcoin for its perceived value store, contrasting older preferences for gold. Veteran trader Peter Brandt notes that gold may have further upside potential even after reaching new highs. However, Bitcoin critic Peter Schiff states that Bitcoin must rise to $148,000 to match its past record when priced in gold. Meanwhile, Joe Consorti suggests that Bitcoin's fair value floor may have risen to $1.34 million due to gold's increase.

Source 🔗