Bitcoin and gold, known as fierce competitors in the markets, have hit records one after another. This has increased the comparison between the prices of gold and BTC.
At this point, Matthew Sigel, manager of VanEck, one of the giant asset management companies, said that the record high in gold will contribute positively to the BTC price.
Comparing gold and Bitcoin from account X, Sigel said that the ounce price of gold reaching the level of $4,000 means a much higher equivalent price for Bitcoin.
At this point, Matthew Sigel predicted that Bitcoin's market value will reach half that of gold after the next halving.
VanEck manager, who said that BTC will reach half the value of gold after the next halving, stated that considering today's peak in gold prices, this means that the BTC price will reach $644,000.
“At VanEck, we’ve always said that Bitcoin should reach half the market value of gold after the next halving.
About half of gold's value comes from its use as a store of value rather than its industrial or jewelry demand.
But Bitcoin's value replaces and enhances gold's role as a store of value (store of value), not for industrial demand or jewelry use.
And surveys show that young consumers in emerging markets are increasingly choosing Bitcoin for this role.
At this point, we predict that after the next halving, Bitcoin will reach half the value of gold.
Judging by the peak price of gold, Bitcoin will rise to around $644,000 after the next halving.”
*This is not investment advice.