![]() Bitcoin volatility also hit historically low, and annual return was also moderate as compared to its peers. “Bitcoin has remained in the sideways range of 40K-60K in almost 9/10 months of the last year. Bitcoin is currently trading at $42,838.89 down nearly 8%, according to crypto price-tracking website CoinMarketCap. Gold slipped on Thursday and was down 0.5% at $1,801.08 per ounce, according to Reuters report, as of Thursday afternoon IST. ![]() Gold has long been referred to as a good store of value. ‘Store of value’ is a term used for an asset that maintains its value, rather than depreciating. Goldman said bitcoin’s float-adjusted market capitalisation is currently just under $700 billion, and it currently commands roughly 20% share of the “store of value” market. ![]() “Hypothetically, if Bitcoin’s share of the “store of value” market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualized return of 17-18% (accounting for growth in Bitcoin supply over time),” according to the Goldman note.
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