Goldman estimates that the public holds about $2.6 trillion of gold for investment purposes, assuming a gold price of $1,800 per troy ounce. Bitcoin’s float-adjusted market capitalization is currently just under $700 billion, Pandl wrote, adding that this implies Bitcoin currently commands an approximate 20% share of the “store of value” (gold and Bitcoin) market.
Related posts
-
US Bitcoin ETFs Draw $44.51M in Inflows; GBTC Sees Another Round of Outflows
While U.S. spot ether exchange-traded funds (ETFs) experienced outflows on Wednesday, bitcoin ETFs saw inflows totaling... -
Jersey City to Invest in Bitcoin ETFs, the Latest Pension to Dive Into Crypto
Wisconsin’s public pension plan – the State of Wisconsin Investment Board, which has roughly $156 billion... -
VanEck Sees Bitcoin Hitting $2.9M by 2050 – but a Lot Has to Happen First
Bitcoin is benefiting from massive economic imbalances, rising distrust in institutions, fiscal recklessness and mounting debt...