The Bitcoin market is only 2% of the Gold market, which represents a multiple opportunity for expansion

The Bitcoin market is only 2% of the Gold market, which represents a multiple opportunity for expansion

Galaxy Digital, as one of the best-known investment companies in the field of digital assets, points to the untapped growth potential of cryptocurrencies.


27 Sep 2020 , 11:51 @ Thomas Alford

The Bitcoin market is only 2% of the Gold market, which represents a multiple opportunity for expansion

Galaxy Digital, as one of the best-known investment companies in the field of digital assets, points to the untapped growth potential of cryptocurrencies.

In the latest report, developed by head of asset management, Steve Kurz and portfolio manager, Paul Cappelli of Galaxy Digital, attention is focused on a rapid digitization and the crucial role of Blockchain in this global transformation.

This Blockchain revolution has been confirmed in particular by the digital assets themselves, which serve as the best indicators of this growth. According to the statistics, digital assets were to surpass all major asset classes over the 3-, 5-, and 10-year periods.

Galaxy Digital, therefore, in this way recommends everyone to diversify their portfolio through this historically unrelated asset class, which shows its essence even today, when we face COVID-19.

The fact is that just as countless “winner-take-all” companies were born thanks to the Internet, such a scenario is probably waiting for us in the case of digital assets and Blockchain.

The investment company G. D. also focused on the unfulfilled growth potential of the most popular cryptocurrency and comparing Bitcoin with gold.

Bitcoin has up to 60 times the potential to expand the market if it wants to reach the gold level.

Gold’s market capitalization is currently around $ 12 trillion and Bitcoin is only $ 200 billion, meaning that bitcoin “digital gold” accounts for less than 2% of the gold market.

Let’s not forget that these two assets have many features in common, and Bitcoin as a peer-to-peer electronic cash and a store of new generation value could be a suitable investment complement to classic gold.

Read also: Israel wants to recognize Bitcoin as a currency

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