Bitcoin $100K possible by chipping away at gold’s market share: Goldman Sachs
Cointelegraph
Published Jan 05, 2022 06:45AM ET
Updated Jan 05, 2022 06:40PM ET
Bitcoin (BTC) failed to close 2021 above the long-expected $100,000 level, but experts believe the psychological horizon is still achievable by taking gold’s market share, albeit over a more extended period.
In a note released to investors on Tuesday, Goldman Sachs (NYSE:GS) co-head of global FX and EM strategy Zach Pandl hypothesized that if the largest cryptocurrency could overtake 50% of the store of value market share over the next five years, BTC’s price would increase to just over $100,000, marking a compound annualized return of 18%.
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Written By: Cointelegraph
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