Bitcoin may continue to always take the market share from gold being a part of an extensive adoption of various digital assets. Making this often touted with the price prediction of about $100,000 by the advocates as a possibility.
It also estimated that the float-adjusted Bitcoin market capitalization is usually under $700 billion. This accounts for about 20% share of “store of value” market that it said to be comprised of gold and Bitcoin. The worth of gold which is available for investment is usually estimate to be $2.6 trillion. In case the share of Bitcoin of store of the value market are “supposedly” to increase to 50% for last five years, the price will also increase to more than $100,000, for the compound yearly return of 17% – 18%.
Bitcoin – Biggest Digital Asset
Bitcoin has traded about $46,000, subsequent to climbing 60% previous year. The biggest digital asset by the scope of market value also hit a record of $69,000. It even has surged above 4,700% after 2016.
Even though the network of Bitcoin consumption of the real resources might also be clear obstacle for institutional adoption. This won’t stop demand for an asset.
Moreover, there was also an ambiguity in interpretation, where they have also complied voluntarily and have paid GST. DGGI has investigated various top crypto exchanges.
The year 2022 will be a new beginning of year for layer-2s. It expected that MATIC will continue the spark and momentum in the year 2022.
Bitcoin has also been refer as the digital gold. And also various criticisms levied at the gold was also applied to Bitcoin. It also pays no dividend or no interest, and it does not imitate performance of various traditional assets. It said that Bitcoin is like gold, as it serves a protection against various systemic abuse of the fiat currencies.