Goldman Sachs predicts Bitcoin will reach $100K ‘Hypothetical’ Store of Value

Leading global investment banking firm Goldman Sachs speculates that bitcoin price could spike by 50% within the next half-decade.

In a research note submitted to clients yesterday, the company’s co-head of foreign exchange strategy Zach Pandl told clients that the world’s biggest digital currency could grasp a larger portion of the market share from gold.

RELATED: Bitcoin volatility might increase from this point

Newsbsc Goldman Sachs Bitcoin

“Hypothetically, if Bitcoin’s share of the ‘store of value’ market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualized return of 17-18% (accounting for growth in Bitcoin supply over time),” According to a snippet from Pandl’s note gotten from CoinDesk.

According to Goldman Sach, bitcoin holds a 20% stake in the “store of value” (gold and bitcoin) market.

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