Bitcoin could reach $100k if it replaces gold as store of value: Goldman

Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group.

Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for 20% share of the “store of value” market which it said is comprised of Bitcoin and gold. The value of gold that’s available for investment is estimated at $2.6 trillion.

If Bitcoin’s share of the store of value market were “hypothetically” to rise to 50% over the next five years, its price