Re: Bank of America: It takes $93 million to move Bitcoin's price by 1%.
As a consequence, if (when) the Bitcoin market cap exceeds that of gold, the exposure to cash inflows will be the same for both, equating the efficiency of both as a store of value.
But, given that Bitcoin took 12 years to hit 10% of gold's market cap in 5000 years, all I see is a bright near future: Bitcoin is on the right and fast track to being a "great" store of value... if it hasn't already.
But, given that Bitcoin took 12 years to hit 10% of gold's market cap in 5000 years, all I see is a bright near future: Bitcoin is on the right and fast track to being a "great" store of value... if it hasn't already.
Yes sooner or later Bitcoin will exceed the market cap. of gold but here the fun part begins... Gold supply is not limited it is estimated 2,500-3,000 tonnes annually however, bitcoin is limited to 21 millions bitcoins only.
