Crypto enthusiasts like to refer to bitcoin as digital gold, and Goldman Sachs seems to agree.
A new Wall Street Behemoth report shows that bitcoin outperformed other asset classes last year, giving traders a 60% return. The next highest percentage is crude 55%. The S&P 500, typically compared to bitcoin, rose 29%, while the top five were led by Russell 1000 Growth and NASDAQ, all 28%.
Investors ’preferred destination, gold, has now risen one percentage point, meaning market share has been stolen with the highest cryptocurrency.
Zach Pandl, co-head of currency strategy at Goldman Sachs, revealed in a research article that bitcoin currently holds 20% of the gold/bitcoin stock market price.
“If the” market share “of bitcoins increases by 50% over the next five years (without growing demand for convenience stores), its value will increase to over $ 100,000 a year. It will yield 17-18% (growth of bitcoin over time),” he wrote ta.
Next year’s growth will provide an acid test to bitcoin. However, as new technology providers make it easier to invest and more financial institutions enter the market as regulatory measures become effective, it seems unlikely that the current crypto mania will cool.