Bitcoin’s value could soar to nearly $644,000 by its next halving in 2028, as rising gold prices push its “equivalent value” higher, according to VanEck’s head of digital asset research, Matthew Sigel. He said Bitcoin could reach half of gold’s market capitalization after the next halving, aligning the cryptocurrency more closely with the world’s oldest store of value.

Gold prices recently hit a record $4,000 per ounce, driven by global economic uncertainty and a weakening U.S. dollar. While gold remains a traditional safe haven, analysts note that younger investors increasingly prefer Bitcoin for long-term wealth preservation. Surveys show many view it as digital gold, offering more accessibility and transparency.

Veteran trader Peter Brandt believes gold could still climb higher, but others see Bitcoin’s fundamentals strengthening. Despite skepticism from gold advocates like Peter Schiff, crypto experts say Bitcoin’s “fair value floor” may now exceed $1.3 million, signaling growing confidence in the digital asset’s future.