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Author: Admin | 2025-04-28
Mining / Opinion January 12, 2022 Jesse Powell, Cathie Wood, President Nayib Bukele, and now Goldman Sachs - faith in Bitcoin’s road to surpassing $100,000 continues to grow. The New York City-based investment management firm has joined many in predicting that Bitcoin will not only reach the much circulated milestone, but surpass it as well. In a recent report, Goldman Sachs shared that, within the next 5 years, Bitcoin could more than double from its current price point of nearly $43,000, at the time of writing. Zach Pandl, the co-head of global foreign exchange, rates and emerging market strategy for Goldman Sachs, said: "We think that Bitcoin's market share will most likely rise over time as a byproduct of broader adoption of digital assets.” The prediction stems from a comparison to gold, as Pandl argues that Bitcoin will continue to take from gold’s market share as it hangs back at under $1,800 per ounce. A “store of value” describes assets, like precious metals (gold) and currencies (Bitcoin), that are expected to depreciate very little over a long period of time. According to Pandl, Bitcoin currently makes up about 20% of the current store of value, and could go on to make up 50% as it goes neck to neck with gold. For context, compared to the approximate $2.6 trillion worth of gold owned as an investment, Bitcoin has a market capitalization of $700 billion. "Bitcoin may have applications beyond simply a ‘store of value'…we think that comparing its market capitalization
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