News > Goldman Sachs says bitcoin will compete with gold as “store of value”
Goldman Sachs says bitcoin will compete with gold as “store of value”
The Hindu | 06/01/2022 11:01 AM | Click to read full article
Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Goldman Sachs analyst Zach Pandl said in a research note to clients.
Citing bitcoin's $700 billion market capitalization, compared to the around $2.6 trillion worth of gold owned as an investment, Goldman Sachs said that the cryptocurrency currently has a 20% share of the "store of value" market.