Bitcoin Surpasses $100,000, Analysts Predict It Will Replace Gold
Bitcoin (BTC) reached $104,088 on Binance, surpassing the $100,000 milestone. Analysts at Bernstein predict Bitcoin may replace gold as a safe-haven asset within the next decade.
Bitcoin Poised To Outshine Gold Over Next Decade, Bernstein Says
In a client note, Bernstein analysts, led by Gautam Chhugani, expressed confidence that Bitcoin will become the premier 'store of value' asset and a standard for corporate treasury management. The note stated:
We expect Bitcoin to emerge as the new-age premier ‘store of value’ asset eventually replacing Gold over the next decade.
Year-to-date, Bitcoin is up 141%, with significant gains following Donald Trump's victory in the November US presidential election, which is expected to create a favorable regulatory environment for digital assets. Since November 4, the total crypto market cap increased from $2.4 trillion to $3.9 trillion, marking a 62.5% rise.
Bernstein predicts BTC could reach $200,000 by late 2025, aligning with Charles Edwards' prediction that BTC might double in value quickly due to its smaller market cap.
BTC Adoption Major Driver Behind Its Success
Gil Luria, an analyst at D.A. Davidson, reinforced Bernstein’s outlook, identifying mainstream adoption as crucial for Bitcoin's success but noted it has a long way to go before being widely accepted as a medium of exchange. Luria stated:
Bitcoin’s main current application as a store of value — an appreciating, low-correlation asset that replaces gold as a hedge against a decline in economic stability.
Although Bitcoin is not yet widely used as currency, it is gaining traction as a reliable asset class. Recently, Hut 8 announced plans to establish a strategic Bitcoin reserve. Additionally, Rumble revealed plans to enhance their BTC holdings, while declining BTC reserves on exchanges are contributing to supply scarcity and potentially increasing prices. At press time, BTC traded at $103,172, reflecting a 7.9% increase over the past 24 hours.
