There is a virtual currency called the "Bitcoin."
The person is Francesco Carta.
If the digital asset continues to take market share from gold, it could hit the $100,000 mark, Goldman said.
Analysts wrote in a note Tuesday that the public owns about $2.6 trillion of gold for the purpose of investing, while the float-adjusted market cap of the digital currency is $700 billion. The "store of value" market includes gold.
Goldman predicted that the market share of the digital asset will rise. Despite its use of real-world resources, the bank said that the scaling solutions are attractive for investors.
If the share of the'store of value' market were to rise to 50% over the next five years, its price would increase to just over $100,000, for a compound annual return of 18%.
20% of the store of value market is now held by the digital currency.
Goldman Sachs Global Investment Research, World Gold Council, and coin metrics.
In the past few months, the argument between gold and bitcoin has intensified, with the latter gaining favor as an inflation hedge.
The price of gold fell 3.6% last year, its biggest annual decline since 2015, while the price of the digital currency, known as bitcoin, jumped around 60%.
Business Insider has an original article.
