“Bitcoin’s market share has become a by-product of widespread adoption of digital assets over time,” Zack Pandle, co-head of Goldman Sachs’ global forex, rates and emerging market strategies, said in a report. I think it’s likely to rise. “
He said Bitcoin currently occupies about 20% of the so-called “store of value” market. This is a term used to describe gold, Bitcoin, and other alternative assets such as currencies and commodities whose prices do not fall significantly over the long term. period.
Pandl believes that Bitcoin could eventually occupy 50% of the value market stores. This will increase Bitcoin by about 17% to 18% each year over the next five years, potentially exceeding the $ 100,000 level.
“I think comparing market capitalization to gold will help us to parameterize the plausible results of Bitcoin returns,” Pandle added.
— Michelle Toh contributed to this report.
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