According to recent reports, analysts at investment management firm, Ark Invest, firmly believe Bitcoin will effortlessly exceed gold’s $10 trillion market capitalization, assuming the position of the asset with the highest market valuation.
Ark Invest,the New York-based global asset manager is founded and chaired by Cathie Wood.
With a market cap of just over $1 trillion, BTC has over the years demonstrated resilience in the fight to the top as one of the most valuable assets in the financial market.
For a once valueless coin just years back, the asset has come a long way today, with its recent growth majorly impacted by the economic woes triggered by the pandemic.
Speaking on the matter, Yassine Elmandjra, a thematic analyst at Ark Invest, noted that basic analysis of the comparative values and market caps of both BTC and gold proves the former is capable of outperforming the latter even though its market cap is currently 10% of it.
She argued, “If you look at gold at a $10 trillion market cap, bitcoin is about 10% of that, and if we believe bitcoin is a 100 times better version than that, then it’s fairly safe to say that there’s a stark chance that bitcoin captures a lot of gold and market share, and more.”
Starting 2020 with a market cap of $130 billion and a value of around $7,000, BTC ended the year with $500 billion and a value of $29,000. A significant growth but nothing compared to the progress it has seen this year, doubling its market cap …
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