Goldman Sachs believes Bitcoin will hit $ 100,000
As Bloomberg reports, analyst Zach Pandl shared this optimistic forecast in an investor memo shared yesterday. According to Goldman Sachs, the evolution of the capitalization of Bitcoin (BTC) could allow it to pass the $ 100,000 mark within five years.
The institution estimates that Bitcoin’s adjusted capitalization is around $ 700 billion. This sum would correspond to 20% of the market capitalization of “store of value” type assets. This market is made up of Bitcoin and gold, again according to Goldman Sachs.
For comparison, the capitalization of gold is estimated at around 11,553 billion dollars. At its highest, BTC had reached a market cap of $ 1,291 billion, when it reached its previous price record last November.
👉 On the same topic – According to Goldman Sachs, Ether (ETH) could surpass Bitcoin (BTC) as a store of value
The “store of value” market
According to the hypothesis considered by Goldman Sachs, if this market share of the stores of value climbed to 50% for Bitcoin, its price would then exceed 100,000 dollars:
Stores of Value Market – Source: Goldman Sachs via Bloomberg
Either way, this once again confirms that Bitcoin is now firmly established in its role of ” digital gold “. That said, one cannot help but note a certain change of course on the part of Goldman Sachs. Another analyst indeed considered last June that BTC was comparable to copper, rather than gold. But since then, he has had an absolute record, and it seems that the institution has changed its mind …
👉 Find our guide – How to buy Bitcoin (BTC)?
Receive a recap of crypto news every Sunday 👌 And that’s it.