Bitcoin can possibly cross the $100,000 achievement before very long assuming that investors progressively treat the main cryptocurrency as a store of value, as per a new note from Goldman Sachs.

Goldman Sachs assessed that bitcoin contains roughly 20% of the “store of value” market, which customarily alludes to assets, for example, gold that keep up with their value without significant depreciation.

Expert Zach Pandl said bitcoin’s “piece of the pie will probably ascend over the long haul” as investors develop more OK with digital assets.

Pandl, the company’s co-head of worldwide unfamiliar trade and developing market strategy, noticed bitcoin’s value would reach $100,000 inside a couple of years in the event that its portion of the store of value market were to “hypothetically” reach at 50%.

“Bitcoin might have applications past essentially a ‘store of value’ – and digital resource markets are a lot greater than Bitcoin — yet we believe that contrasting its market capitalization with gold can assist with putting boundaries on conceivable results for Bitcoin returns,” Pandl said.

Crypto defenders have since a long time ago promoted bitcoin as “digital gold” and a likely replacement to the valuable metal. The cost of gold is as of now about $1,800 per ounce.

The price of a single bitcoin flooded as high as $69,000 in November. Be that as it may, cryptocurrency values have drooped as of late as rising expansion and other concerns spook investors.

Bitcoin fell in excess of 6% to $43,283 starting at Thursday evening. The most recent slump happened after the Federal Reserve’s December FOMC minutes demonstrated officials could raise interest rates faster than expected this year.

Despite the recent slump, bitcoin’s value has increased more than 17 percent over the last 12 months.