Bernstein: Bitcoin will replace gold in the next decade
Brokerage firm Bernstein has predicted that within the next decade, bitcoin will overtake gold as the main "store of value" and become an integral part of institutional and corporate finance. This prediction was made by analyst Gautam Chhugani in his report after bitcoin's price climbed to $100,000 and achieved a 141% annual increase. This significant increase is largely due to market expectations following the US election that the Trump administration may introduce more crypto-friendly policies. The report further predicts that the price of bitcoin could surge to $200,000 by the end of 2025.
At the same time, Gil Luria of D.A. Davidson agrees that bitcoin is a value-added asset with a low correlation to inflation, in contrast to gold. He points out that bitcoin's value depends more on its acceptance than on traditional economic indicators. However, he also acknowledges that bitcoin still has a long way to go before it can truly become a mainstream medium of exchange and unit of account.