ICYMI: Bitcoin is set to take further market share from gold, according to Goldman Sachs
Bitcoin's ascent will cost gold market share, according to a research report by investment banking giant Goldman Sachs.
Looking at bitcoin's float-adjusted market capitalization, the cryptocurrency accounts for about 20% of the total"store of value" market, which is currently dominated by gold. Proponents of bitcoin—ranging from Paul Tudor Jones to Anthony Scaramucci—have backed bitcoin as a store of value and inflation hedge asset akin to gold.
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