How Bitcoin Could Hit 100k in 2022
In its prediction, Goldman Sachs explained that the value of Bitcoin could grow to $100k if it continues shaving off gold’s market share.
Goldman has estimated that the public holds about $2.6 trillion of gold for investment purposes. With Bitcoin at approximately 20% of gold’s market cap ($700 billion).
Zach Pandl, Goldman Sachs’ co-head of foreign exchange strategy, explained that the value of Bitcoin could grow over $100k if its adoption increases the “store of value” for investors against gold.
Gold vs. Bitcoin as a store of value is a debate yet to be concluded. However, while millennials and Gen Zs see bitcoin as the better investment, most boomers would pick gold over bitcoin without thinking twice.
In his 2022 prediction, the enigmatic El Salvadorian President Nayib Bukele also forecasted that Bitcoin could reach $100k in 2022. MicroStrategy CEO Michael Saylor, however, sees the Bitcoin price surging to $600,000.
On The Flipside
Why You Should Care
Despite Bitcoin’s criticisms, especially its power consumption, Goldman Sachs explained that its institutional adoption would only keep growing.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
Error: Contact form not found.
You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Source: Cryptocurrency - investing.com
