CMC News

$BTC Could Hit $644K Based on #Gold's $4K Milestone

VanEck analysts project $BTC 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 $BTC 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 $BTC 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 $BTC for wealth preservation. Analyst Jordi Visser noted in June that younger generations view the financial system as facing ongoing challenges.

$BTC 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 $BTC custodian Theya stated that $BTC'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.