Why Bitcoin Will Never Surpass The Market Cap Of Gold
Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as ‘digital gold’ while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset’s growth. Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it seems that Dalio does not believe that bitcoin will replace....
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On Tuesday, an anonymous crypto analyst from a popular YouTube channel InvestAnswer shared more light on the future of Bitcoin. The analyst revealed that Bitcoin (BTC) is set to surpass both Gold and Silver in market capitalization in no more than a decade. BTC Is A Safer Haven Than Gold And Silver Over the years, Bitcoin has been regarded as digital gold due to the fact that the cryptocurrency offers the same benefits as gold with even additional features. In times of economic and political turbulence, BTC has been seen as a safe haven. In the YouTube video, the crypto analyst was able to....
On June 24, the CEO of Far Peak Acquisition Corp. and former New York Stock Exchange (NYSE) president, Thomas Farley discussed the future of bitcoin and gold on the CNBC broadcast Squawk Box. Farley is optimistic about the leading crypto asset but he doesn’t believe it will surpass gold’s $10 trillion market capitalization unless it’s “an accepted form of currency.” Far Peak CEO Says Bitcoin Will Go Up, But May Not Beat Gold Thomas Farley spoke about bitcoin (BTC) on Wednesday following the digital asset’s rebound from the $28,600 low on June 22. Farley....
Top funds in the U.S. expect Bitcoin to hit anywhere between $130K to half a million in the long term. JPMorgan expects Bitcoin (BTC) to reach $130,000, while Ark Invest anticipates the market valuation of BTC to surpass that of gold.The optimistic macro prediction from both funds revolves around the scarcity of Bitcoin, which has buoyed its popularity as a safe-haven asset.BTC/USD 1-day price chart (Binance). Source: TradingView.comWhy are both high-profile funds so optimistic in Bitcoin?As Cointelegraph previously reported, the outlook of the U.S. dollar index is on the decline.The fear....
It seems $600,000 a coin is the minimum target for analysts over at Ark Invest, who believe Bitcoin will match and then surpass the market capitalization of gold. Ark Invest believes Bitcoin’s (BTC) market capitalization will one day “comfortably eclipse” that of gold, and exceed $10 trillion, reports the London Times. Headed up by veteran stock picker Cathie Wood, analysts at Ark believe Bitcoin’s $1 trillion value is set to rise tenfold in the coming years, as it moves from being a fringe asset to a mainstream financial tool.The value of Bitcoin doubled since January 2021 alone,....
PAX Gold did most of the weightlifting in pushing the gold token market cap above the $1 billion-milestone, outperforming Tether Gold. The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report. Gold shines, Bitcoin disappointsIn 2022, investors have been rushing to the perceived safety of gold-backed crypto assets, whose value is pegged to the price of gold. Namely, PAX Gold (PAXG), Tether Gold (XAUT), and similar precious metal-backed digital assets have been....