Crypto

Bitcoin’s Market Share Will Overtake Gold!

Investment banking giant Goldman Sachs stated in a recent research report that Bitcoin will surpass gold in market share.

The report, delivered by the company to customers on January 4, stated that the market value of Bitcoin will increase with the increase in the adoption of cryptocurrencies.

Looking at the current market share, Bitcoin is known to be quite low compared to gold. Looking at the current market cap, Bitcoin is roughly equivalent to the total amount of value dominated by gold. 20%’sforms the lair.

Expressing that this situation will change soon, the bank’s statements support the views of famous names from Paul Tudor Jones to Anthony Scaramucci. As it is known, some important actors in the financial sector use expressions praising cryptocurrencies with their statements from time to time. In addition, these Bitcoin proponents continue to support Bitcoin as a store of value and inflation hedge asset similar to gold.

According to the information in the report, Goldman Sachs states that if Bitcoin’s overall market share exceeds 50% at the moment, the price could possibly rise above $100,000. Besides, the bank added that use cases other than store of value could act as an impetus for cryptocurrencies.

“Bitcoin is not just a store of value, it can have applications beyond that. Currently, the digital asset markets are much larger than Bitcoin.”

image 11 - Goldman Sachs: Bitcoin's Market Share Will Overtake Gold!
Goldman Sachs

The Goldman Sachs report, which generally includes pro-Bitcoin statements, is similar to the company’s previous reports. As it is known, he stated that Bitcoin was among the best-performing assets of the year in 2021, although it underperformed other assets considering its volatility in previous reports.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button