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Expert Predicts Bitcoin Market Capitalization Can Compete with Gold
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Expert Predicts Bitcoin Market Capitalization Can Compete with Gold
Liputan6.com, Jakarta Fidelity Global Macro Director, Jurrien Timmer predicts that Bitcoin's market capitalization will reach a quarter, rivaling the value of gold. One of the factors is because Bitcoin is considered 'digital gold' in the current era.
Jurrien Timmer explained that the market capitalization held for investment, apart from jewelry or industrial purposes, reached 40 percent of all available gold. Its value is estimated at USD 6 trillion.
He thinks Bitcoin can capture a large part of this market, leveraging its current value of USD 1 trillion as a foundation for even faster growth going forward.
“I estimate Bitcoin will eventually account for about a quarter of the monetary gold market. “At a 40 percent level, monetary gold is currently worth around USD 6 trillion, while Bitcoin is worth USD 1 trillion,” said Jurrien Timmer, citing cryptonews.comMonday (26/2/2024).
In order to make this estimate, it is also necessary to consider the inherent characteristics of Bitcoin crypto which align it with the monetary role of gold storage.
This includes shortages due to limited supply and increasing demand as a hedge against inflation and currency devaluation.
Additionally, Bitcoin's digital nature and decentralized framework positions it as a modern alternative to gold, particularly appealing to tech-savvy individuals and a younger demographic of investors.
Expert Predicts Bitcoin Market Capitalization Can Compete with Gold
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