Bitcoin could hit $100,000 in the next five years should it capture a bigger market share moving forward, The Daily Hodl reported.
- Goldman Sachs’s findings indicate that Bitcoin could breach the $100,000 price target if its compound annualized return of around 17%, amid the continued adoption of cryptocurrencies in the market.
- At present, Bitcoin is estimated to have a $700-billion float-adjusted market capitalization in the store of value market, equivalent to only 20% of gold’s estimated value of $2.6 trillion.
- Both assets are usually tagged as hedges against inflated fiat currencies even as they do not offer returns such as interests or dividends.
Bitcoin last touched the $50,000 level on December 27 and has continued to see steep swings. BTC is down 8.22%.