Analysts at the major investment bank Goldman Sachs expect bitcoin to continue to gain market share by taking it away from gold, while the price of BTC can reach $ 100,000.
A letter to investors fell into the hands of The Block journalists, in which bank analysts predict an increase in the market capitalization of the first cryptocurrency. This is facilitated by “wider adoption of digital assets” and possibly the emergence of “solutions for scaling the Bitcoin network.”
Bitcoin is often cited as one of the best assets for accumulating wealth. Now the capitalization of BTC is about 20% of the total market capitalization of hedging assets. As analysts at Goldman Sachs expect, thanks to the possibility of using BTC not only for storing wealth, the indicator could grow up to 50% of the market. In this case, the rate of the first cryptocurrency will exceed $ 100,000.
“Bitcoin can be used not only as a store of value, because the potential of the digital asset market is enormous. However, comparing the market capitalization of BTC with gold will help determine the possible future results of profitability, ”the letter says.
Formerly Goldman Sachs analysts named
bitcoin the most profitable instrument of 2021 with a profitability of 60%. Interestingly, crude oil was in second place in terms of profitability (55%). The S&P 500 index also entered the top three by a wide margin – its yield was 29%. And according to the former CEO of Bitcoin.com Stefan Rust, in 2022 the cryptocurrency market will be bearish rather than bullish.
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