Bitcoin's price could reach $100,000 within four years if more investors view the cryptocurrency as a store of wealth, according to Goldman Sachs analyst Zach Pandl in a research briefing note. He said bitcoin currently comprises 20% of the ‘store of value' market, with the stock of bitcoin available for investment valued at around $700bn compared to the $2.6trn worth of gold owned as an investment. In a hypothetical situation, Pandl calculated that if bitcoin were to achieve a 50% of the store of value market, its price would reach $100,000. He said: "Bitcoin may have applications...
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