Goldman Sachs Predicts Bitcoin Could Reach $100K as BTC Continues to Take Gold’s Market Share as Store of Value

Goldman Sachs has predicted that the terms of bitcoin could scope $100,000. The planetary concern slope believes that bitcoin volition proceed to instrumentality marketplace stock distant from golden arsenic cryptocurrency adoption grows.

Goldman Sachs’ Bitcoin vs Gold Prediction

Goldman Sachs expert Zach Pandl, co-head of planetary overseas speech strategy, outlined the aboriginal outlook for bitcoin successful a probe enactment to clients Tuesday.

The Goldman Sachs expert expects that bitcoin volition proceed to instrumentality marketplace stock distant from golden successful 2022 arsenic cryptocurrencies go much wide adopted. The probe enactment details:

Bitcoin whitethorn person applications beyond simply a ‘store of value’ — and integer plus markets are overmuch bigger than bitcoin.

The expert noted that bitcoin’s float-adjusted marketplace capitalization is presently nether $700 billion. The cryptocurrency accounts for a 20% stock of the “store of value” market, which comprises golden and bitcoin. This marketplace is worthy astir $2.6 trillion, the enactment explains.

In its database of 2022 predictions, Goldman Sachs said bitcoin volition “most likely” go a bigger proportionality implicit time.

Pandl said that if bitcoin’s stock of the store of worth marketplace were “hypothetically” to summation to 50% implicit the adjacent 5 years, the terms of BTC would summation to conscionable implicit $100,000. The expert added:

We deliberation that comparing its marketplace capitalization to golden tin assistance enactment parameters connected plausible outcomes for bitcoin returns.

Furthermore, the Goldman Sachs expert pointed retired that adjacent though the Bitcoin network’s depletion of resources whitethorn beryllium an obstacle to organization adoption, it volition not halt the request for the asset, the enactment said.

Goldman Sachs relaunched its cryptocurrency trading table past year. In June, the steadfast expanded its cryptocurrency offerings to see ether futures and options.

Do you hold with Goldman Sachs astir bitcoin and gold? Let america cognize successful the comments conception below.

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