VanEck analysts project Bitcoin could reach $644,000 in equivalent value following gold's surge past $4,000 per ounce on Monday. Matthew Sigel, head of digital asset research at VanEck, stated Bitcoin should achieve half of gold's market capitalization after the 2028 halving.
Gold futures established a record high above $4,000 as traders sought safe‑haven assets. The precious metal has gained 50% this year amid political uncertainty, dollar dynamics, and tariff implementations. Sigel's valuation assumes Bitcoin captures significant market share from traditional store‑of‑value assets.
Roughly half of gold's valuation stems from store‑of‑value demand rather than industrial or jewelry applications. Surveys indicate younger consumers in emerging markets increasingly favor Bitcoin for wealth preservation. Analyst Jordi Visser noted in June that younger generations view the financial system as facing ongoing challenges.
Bitcoin established a fresh all‑time high on Monday, exceeding $126,000 for the first time. Veteran trader Peter Brandt suggested gold may climb substantially higher before meaningful corrections occur. He noted that buyers entering at current elevated levels should prepare for potential volatility ahead.
Joe Consorti from Bitcoin custodian Theya stated that Bitcoin's fair value floor has risen to $1.34 million with gold's appreciation. The analysis highlights how traditional asset movements can influence digital asset valuations. Market participants continue evaluating Bitcoin's position relative to established store‑of‑value assets.
Gold's milestone reinforces its status as a proven store of value over millennia. Bitcoin advocates argue that the digital asset offers superior portability and scarcity characteristics. The generational divide in asset preferences could reshape wealth preservation strategies in the coming years.
VanEck's projection assumes continued institutional adoption and regulatory clarity supporting Bitcoin accumulation. The 2028 halving event will reduce new supply issuance, potentially creating favorable supply‑demand dynamics. Market capitalization parity with half of gold's value would represent substantial growth from current levels.
Traditional finance observers continue to compare Bitcoin and gold despite their fundamental differences in nature and history. The debate reflects broader questions about how digital and physical assets coexist in modern portfolios. Both assets serve as alternatives during periods of currency uncertainty.