Bitcoin Could Reach USD 100K in Five Years If It Takes on Gold – Goldman Sachs
A bitcoin (BTC) price of USD 100,000 could become a reality if the cryptocurrency continues taking market share as a store-of-value asset from gold, according to a note from Goldman Sachs. Meanwhile, Bloomberg analyst Mike McGlone argues that 2022 could be the year gold shines again.
At present, the US investment banking giant estimates that bitcoin’s float-adjusted market capitalization is just under USD 700bn, making up 20% of a store-of-value market comprised of gold and bitcoin. For comparison, the value of gold available for investment currently stands at about USD 2.6trn, Goldman Sachs wrote in the recently published note.
And while Goldman said that bitcoin could “hypothetically” reach a USD 100,000 price tag if it takes a 50% share of
Read more on cryptonews.com
