CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Bitcoin Already Started to Replace Gold, Next Target $100,000: Bloomberg Report

Bitcoin Already Started to Replace Gold, Next Target $100,000: Bloomberg Report

Author: Jordan Lyanchev

Last Updated Mar 6, 2021 @ 09:53

Bitcoin could top $100,000 as institutions and corporations prefer its digital finite supply better than gold, according to a new report by Bloomberg.

Getting your audio player ready...

Bitcoin continues to attract more funds previously put in gold, bonds, and stocks, said Bloomberg in its latest crypto-related report. The paper forecasted $100,000 as the next possible price threshold while also outlining that BTC has begun the process of replacing gold as the hedge of choice.

Bitcoin Displaces Gold?

The narrative that bitcoin, also referred to as digital gold by some, will or has already started to replace the precious metal has been widely discussed within the cryptocurrency community in the past year or so. The COVID-19-induced financial crisis and rebalancing of the financial industry poured more fuel into the digital fire.

Bloomberg strategists also reaffirmed this stance in their March Crypto Outlook paper. It reads that “the process of bitcoin replacing gold in portfolios is accelerating, and we see risks tilted toward more of the same.”

The document highlighted 2020 as BTC’s breakout year for institutional investors and corporations, as the cryptocurrency “gained legitimacy with declining volatility versus the opposite in most assets.”

The situation has also intensified in 2021 as “old-guard gold allocators” have focused on “prudent diversification.”

“Bitcoin inflows are accelerating, along with gold outflows, and we see scant reason to reverse the trend. The ratio of the price of the potential global digital-reserve asset vs. an ounce of the old-guard metal appears on a path toward 100x, after breaching 10x that held resistance since 2017.”

Previously, analysts from the US multinational investment giant JPMorgan indicated that the bullion’s price could suffer in the upcoming years as BTC continues to take substantial chunks of its market share.

$100,000 is Next for Bitcoin?

The paper further explained that the primary cryptocurrency’s current state showcases that it has transitioned out of the realm of speculative risk assets into a “global digital store-of-value.” Moreover, its role will only intensify in the upcoming years, as the entire world is going digital.

Keeping in mind the skyrocketing demand from institutions, while the production of new coins decreases every four years, Bloomberg’s report predicted that the next price target could be the entrance to a six-digital territory – $100,000.

Additionally, the document touched upon Grayscale and its Grayscale Bitcoin Trust (GBTC). The GBTC premium dipped into negative territory in late February compared to net asset value (NAV), which, historically, has marked the bottom of many BTC corrections.

GBTC Price vs. GBTC Premium. Source: Bloomberg
GBTC Price vs. GBTC Premium. Source: Bloomberg

Consequently, the analysts believe that reaching $100,000 by the year’s end is not out of the question. Thus, they joined the Co-Founder of Magnetic, William Quigley, who envisioned even a price tag of $150,000 per coin in the next twelve months.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Bitcoin (BTC) Price Bitcoin Long-Term Prediction Gold
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

10 Best Meme Coins to Watch in June 2025

10 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!