As cryptocurrencies are expanding in worldwide economies, Bitcoin (BTC) seems to be promising in beating gold in the market shares during the year 2022.
According to Goldman Sachs, Bitcoin is likely to take over the market and outperform due to its current store value which stands at a 20% share, while Bitcoin’s (BTC) market capitalization is roughly at $700B. On the other hand, the investments of gold reach the equivalent of $2,6 trillion.
In particular, assets like treasured metals or currencies are described under the concept of the store of value, whose importance is worth emphasizing because these assets can keep their value without deteriorating over time.
On another note, the price of Bitcoin would reach a higher price value of $100,000, if the hypothesis of grabbing a 50% market share of this cryptocurrency would become true, according to the worldwide investment bank, and financial services firm based in the United States.
The all-time highest price Bitcoin trade reached was roughly at $69,00 back in November, while the current price it was trading yesterday was equivalent to $46,073.
Regardless of the volatility of Bitcoin (BTC) that has been experiencing over time, it still managed to be on top of Goldman Sachs’ 2021 return list consisting of more than 60% of yearly returns, unlike gold which was ranked at a low percentage of 4% loss.
In light of tremendous currency fluctuations that are currently happening on a global scale, cryptocurrencies are operating more like stocks rather than traditional currencies. Overall, Bitcoin (BTC) has been indicated as digital gold, corresponding to Bloomberg. In a comparison of gold and Bitcoin (BTC), the same complaints that have been levelled against gold apply to Bitcoin (BTC), including paying no interest or dividends, and not mimicking the performance of other traditional assets.
Additionally, Bitcoin (BTC), just like gold, is seen as a safeguard against the widespread abuse of fiat currency, according to proponents.