BitCoin vs Gold: The attraction of investors to cryptocurrencies like bitcoin is increasing rapidly and according to Goldman Sachs, the market share of bitcoin will exceed gold this year.
BitCoin vs Gold: The attraction of investors to cryptocurrencies like bitcoin is increasing rapidly and according to Goldman Sachs, the market share of bitcoin will exceed gold in this year 2022. Goldman Sachs analyst Jack Pandy expressed this estimate in a research note prepared for clients. According to this research note, this year the share of bitcoin in the investment market can be more than 50 percent and its price can also reach above $ 1 lakh (Rs 74.34 lakh).
Crypto Investing: Keep these things in mind before investing in BitCoin, experts gave special tips to investors through webinar
BitCoin may have 50% stake in the investment market
The market capital of bitcoin is $ 70 thousand crore (Rs 52.04 lakh crore) i.e. investors have invested Rs 52.04 lakh crore in it, while the market capital of gold as an investment is $ 2.6 lakh crore (Rs 193.28 lakh crore). According to Goldman Sachs, bitcoin has a 20 percent share of the store of value market and now according to the research note, bitcoin’s share will increase this year. ‘Store of value’ means assets that can retain their value without depreciating against certain currencies or precious metals. Goldman Sachs has expressed in its estimates that this investment can capture 50 percent of the market and its value can reach above $ 1 lakh.
Investment in Crypto Currencies: Stepwise Process of Investing in BitCoin, It is also important to know about these three charges
The price was at a record high in November last year
Bitcoin was at a record high of around $69 thousand (Rs 51.29 lakh) in November 2021 last year. However, from December the very next month, its price started slipping sharply and on Wednesday it reached a price of $ 46073 (Rs 34.25 lakh). Pandi has written in his note that bitcoin can be used in addition to ‘store of value’. Goldman Sachs re-launched the cryptocurrency trading desk on its platform last year in 2021.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
.