Gold vs Bitcoin has always been a sensitive topic with a lot of polarising views. Many say that Gold is and will stay as the most valuable asset globally. On the other hand, many think that Bitcoin will replace Gold to become the most valuable asset globally in no time. And now Goldman Sachs has given their opinion on this hot topic. Let’s take a look at what they have to say.
Goldman Sachs on Gold vs Bitcoin
The CEO of the bank Goldman Sachs, David Solomon, said that he thinks Bitcoin could be “a big evolution” in the financial industry. He thinks that since the market is very new, there is a lot of space for development in the upcoming years. The debate whether gold or Bitcoins is very difficult to get a conclusion to right now. But for sure, in a few years, we might have a solid answer. The funny story will be if GOLD-man Sachs says Bitcoin is better than Gold. The bank has already announced its plans to provide crypto services in the near future. But do note that this will be only for rich clients with limited amounts in their portfolio.
Talking about if Gold is going to replace gold or not, he said that Bitcoin would inevitably have the same market cap as gold if not higher. This is due to the fast adoption rate that has been a driving factor in the industry. And since there are a lot of advantages of using Bitcoin over gold, it is ultimately going to replace it. Speaking as an asset providing returns on investment Bitcoin has provided an average of 230% returns per year on average. On the other hand, Gold’s average returns are around 11%.
What do you think about the comments of Goldman Sachs on the big Gold vs Bitcoin debate? And what are your opinions on it? Let us know in the comments below. Also, if you found our content informative do like it and share it with your friends.