This paper aims to develop an accurate 3D geometry representation of satellite images using satellite-ground image pairs. Our focus is on the challenging problem of generating ground-view panoramas from satellite images. We draw inspiration from the density field representation used in volumetric neural rendering and propose a new approach, called Sat2Density. Our method utilizes the properties of ground-view panoramas for the sky and non-sky regions to learn faithful density fields of 3D scenes in a geometric perspective. Unlike other methods that require extra 3D information during training, our Sat2Density can automatically learn the accurate and faithful 3D geometry via density representation from 2D-only supervision. This advancement significantly improves the ground-view panorama synthesis task. Additionally, our study provides a new geometric perspective to understand the relationship between satellite and ground-view images in 3D space.