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Bitcoin could reach $500,000 as its market cap aims for half of gold's, says VanEck's Matthew Sigel.

Market News
05 Oct 2026
Coinpaper
View Source
Bullish
Bitcoin could reach $500,000 as its market cap aims for half of gold's, says VanEck's Matthew Sigel.

VanEck's Matthew Sigel projects Bitcoin could reach $500,000 if its market capitalization grows to half that of gold, a medium-term target. This view is supported by Bitcoin's recovering price toward $88,000 and strong institutional demand, including $6.34 billion inflows into U.S. spot Bitcoin ETFs in Q3 2026. Sigel notes Bitcoin's higher volatility compared to gold and technical risks like quantum computing but sees these as long-term concerns. Near-term, Bitcoin must surpass $87,000 and $90,000 resistance levels before aiming for six-figure prices.

While VanEck projects Bitcoin could reach $500,000, on Pluang as of Oct 05, 2026 18:33 WIB, BTC trades at Rp1.538.214.849 with a modest 0.81% gain over one day. Bitcoin’s market cap stands at Rp31.000,88 trillion, reflecting strong investor interest as 84% of Pluang orders lean toward buying. This contrasts with Bitcoin’s limited supply of 20.1 million coins out of 21 million total, highlighting scarcity as a factor in its valuation dynamics.

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