Analysts at Goldman Sachs said that at present the cryptocurrency commands a 20 per cent share of the “store of value” market.
The stock of bitcoin is worth about $700 million at today’s prices, compared with the $2.6 billion of gold available for investment, it estimated.
They also note that Bitcoin may seize gold market share over time as a “by-product” of more adoption along with the potential of “Bitcoin-specific scaling solutions.”
