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Bitcoin Verses Gold: Goldman Sachs Analyst Says Bitcoin Will Likely Increase Market Share

The gold investment market is just over $2.5 billion, and the Bitcoin market is about $700 million, but the momentum is on the side of Bitcoin…

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  • Written by  Banking Exchange staff
 
 
Bitcoin Verses Gold: Goldman Sachs Analyst Says Bitcoin Will Likely Increase Market Share

The gold investment market is just over $2.5 billion, and the Bitcoin market is about $700 million, but the momentum is on the side of Bitcoin… at least that is what Goldman Sachs’ Zach Pandl said this week in a document sent to clients.

The comparison of the two investment strategies was made as the two share the “store of value” market, where bitcoin presently holds 20% market share according to the bank, but will increase market share in 2022.

If Bitcoin were to hold the same market share as gold, the price would rise to more than $100,000 which would be more than twice its present market value. That would be 33% higher than its all time high. Pandle noted that the overall cryptocurrency market is much higher than just Bitcoin.

But Goldman Sachs was looking to find a way to benchmark the crypto currency against other asset classes that might be an alternative to the equity markets.

One of the more interesting questions for banks and financial institutions in 2022 will be what services to offer customers when it comes to digital currency.

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