Bitcoin has real potential to rise in price 60 times

Analysts predict investors’ disappointment with gold.

Investment company Galaxy Digital Capital Management in its September report notes that bitcoin has the potential to rise in price 60 times, being a more attractive asset than gold. Analysts note that bitcoins are invested by companies whose shares are traded on the Wall Street stock exchange. Experts have paid special attention to the fact that bitcoins are also invested by a well-known legend of the investment world, billionaire Paul Tudor Jones.

bitcoin rise potential

Comparing the capitalization of gold (more than 12 trillion dollars) and bitcoins (about 200 billion dollars), analysts conclude that “the situation will be leveled in the direction of the oldest cryptocurrency, which will see the flow of investments from precious metal.” Experts of Galaxy Digital Capital Management draw attention to the fact that bitcoin is beginning to be perceived by institutional players as an inflation hedge, that is, as a kind of “insurance” in case the US dollar loses the status of the world reserve currency.

The conclusions of Galaxy Digital Capital Management echo what recently stated a well-known risk analyst Nassim Taleb. Taleb believes that “today the most undervalued risk of financial markets is that the US dollar may lose its reserve currency status.”

Last week, Bloomberg presented an analytical opinion,which indicates that bitcoin is already an under-estimated asset, and that its price should be about 15 thousand dollars.

Galaxy Digital Capital Management, making a prediction about bitcoin, emphasize that the future of the digital economy will look like a competitive field, where different assets will compete. At the same time, the oldest cryptocurrency “has all the signs to become a leading global means of saving and be a digital alternative to gold.”

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