Posted 3/2/2024, 3:40:00 PM
Fidelity: Bitcoin Could Reach $75K if It Captures 25% of Gold Market
- Fidelity Investments predicts Bitcoin could gain another $500 billion in market cap and reach $75,000 based on it taking market share from gold
- The prediction is based on Bitcoin taking 25% share of the monetary gold market as a store of value and inflation hedge
- Bitcoin's current $1.2 trillion valuation is already about 20% of the monetary gold market
- Other institutions like Goldman Sachs and Ark Invest have even more bullish predictions of Bitcoin taking 40-50% of this market
- Bitcoin's potential goes beyond just "digital gold" given new spot ETFs, upcoming halving, and growing global role