A prime analyst on the funding large Constancy thinks Bitcoin (BTC) is primed to take market share from gold.
Jurrien Timmer, Constancy’s director of worldwide macro, shares a chart on the social media platform X that examines the worth of “financial gold.”
The time period refers back to the gold that’s explicitly held by central banks and personal traders as a financial asset and isn’t used for jewellery or industrial functions.
“That is an admittedly inexact science, however primarily based on information printed by the World Gold Council, I’m guessing that the share of financial gold is round 40% of whole above-ground gold.
Primarily based on the calculations outlined in my earlier threads, I estimate that Bitcoin will finally seize round 1 / 4 of the financial gold market. At 40%, financial gold is at present value round $6 trillion, whereas Bitcoin is value $1 trillion.”
1 / 4 of $6 trillion is a $1.5 trillion market cap, which might equate to a value per Bitcoin of round $76,000. Timmer, nevertheless, additionally assumes that by the point BTC reaches that stage of gold’s market share, the worth of the dear metallic will probably be “a lot greater,” suggesting that his estimated market cap for Bitcoin will probably be greater than $1.5 trillion.
Bitcoin is buying and selling at $56,306, up over 9.30% within the final 24 hours.
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