Known as the leading cryptocurrency in the market, Bitcoin has seen unexpected success during the pandemic, quickly
Bitcoin's current market cap is around $350 billion, while gold's is around $10 trillion.
Blockchain.com has seen a 40.46% year-to-date increase in wallet creation on its crypto exchange. This is about 18 million new wallets created on the site since December 2019. However, Bitcoin investors, known for their unquenchable optimism, think this is just the beginning, Business Insider reports.
According to Garrick Hillman, head of departmentAccording to Blockchain.com research, Bitcoin's market capitalization could reach $ 1 trillion in 2021 if investors are more serious about its status as a reserve currency.
Even Goldman Sachs takes cryptocurrency seriously, noting that it poses a growing threat to gold.
“The recent underperformance of gold from realrates and the dollar has some investors concerned that bitcoin is replacing gold as the preferred hedge against inflation, the company recently said. “While there is some substitution occurring, we do not view the growing popularity of Bitcoin as an existential threat to gold’s status as the currency of last resort.”
Let us remind you that Goldman Sachs Group is one ofThe world's largest investment bank, a financial conglomerate known among financiers as “The Firm,” is engaged in investment banking, securities trading, investment management and other financial services.
Read also
See the ISS flying between Jupiter and Saturn
The brightest blazar shines on the Earth. What does this mean for the planet?
"Study failed": Sputnik V testers will no longer receive placebo