PlanB, the founder of the Stock-2-Flow (S2F) model, has reiterated his strong support for Bitcoin (BTC). The analyst predicts that after the halving event in April, Bitcoin will become rarer than gold and real estate.

PlanB suggests that it would be surprising if Bitcoin's market capitalization, which is currently under $1 trillion, remains below the gold market capitalization, which is over $10 trillion after the halving. According to the analyst, this translates to a potential BTC price of over $500,000, which is calculated by dividing the gold market cap by the total number of Bitcoins (20 million).

The S2F ratio, which measures rarity, is about 60 for gold and 100 for real estate. Remarkably, Bitcoin's S2F ratio is predicted to reach around 110 after the upcoming halving.

According to PlanB, Bitcoin's price is likely to rise as high as $55,000 before the next halving event. This event, which is scheduled to take place in April, will reduce the Bitcoin block reward by 50% to 3,125 BTC, making Bitcoin even rarer.

In the long term, PlanB expects the price of Bitcoin to reach a high of $532,000. This extreme bullish price call is set for 2025.

The analyst has long been criticized for having a hard time predicting the BTC price of the S2F model.