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Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold

  • Firm expects Bitcoin to take more market share from gold
  • ‘Store of value’ market share seen being up for grabs
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Bitcoin Comes of Age: What Does 2022 Hold for Crypto?

Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group.

Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for 20% share of the “store of value” market which it said is comprised of Bitcoin and gold. The value of gold that’s available for investment is estimated at $2.6 trillion.