Bitcoin can snag market share from gold over time as a “byproduct” of more adoption along with the potential from “Bitcoin-specific scaling solutions,” Goldman Sachs’ co-head of foreign exchange strategy Zach Pandl said in a research note to clients Tuesday.
“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),” Pandl wrote in the note.
