Mining, Opinion

Goldman Sachs Backs a Bitcoin $100k High

January 12, 2022

Jesse Powell, Cathie Wood, President Nayib Bukele, and now Goldman Sachs - faith in Bitcoin’s road to surpassing $100,000 continues to grow. The New York City-based investment management firm has joined many in predicting that Bitcoin will not only reach the much circulated milestone, but surpass it as well.

In a recent report, Goldman Sachs shared that, within the next 5 years, Bitcoin could more than double from its current price point of nearly $43,000, at the time of writing. Zach Pandl, the co-head of global foreign exchange, rates and emerging market strategy for Goldman Sachs, said: "We think that Bitcoin's market share will most likely rise over time as a byproduct of broader adoption of digital assets.”

Bitcoin Expected to Take from Gold’s Market Share

The prediction stems from a comparison to gold, as Pandl argues that Bitcoin will continue to take from gold’s market share as it hangs back at under $1,800 per ounce. A “store of value” describes assets, like precious metals (gold) and currencies (Bitcoin), that are expected to depreciate very little over a long period of time. According to Pandl, Bitcoin currently makes up about 20% of the current store of value, and could go on to make up 50% as it goes neck to neck with gold. For context, compared to the approximate $2.6 trillion worth of gold owned as an investment, Bitcoin has a market capitalization of $700 billion.

"Bitcoin may have applications beyond simply a ‘store of value'…we think that comparing its market capitalization to gold can help put parameters on plausible outcomes for Bitcoin returns," added Pandl. Gold is a long-standing asset that many recognize and understand, and the ability to compare it so closely with Bitcoin demonstrates the digital coin’s steadfast merge into mainstream adoption.

With Digital Asset Adoption on the Rise, Investors Big and Small Turn to Bitcoin

An increasing number of top fund managers have invested in Bitcoin, such as Stanley Druckenmiller, Paul Tudor Jones, and George Soros. It is now even easier for individual investors to follow suit, as regulators have approved exchange-traded funds (ETFs) that track Bitcoin futures prices and reduce overall risk, allowing investors to speculate on the cryptocurrency's future price.

Goldman Sachs is supporting this prospect for its own clientele, as Pandl’s client-facing advocacy for Bitcoin outlines its potential to take from gold’s market share in 2022, as digital assets become more widely adopted.

The Ongoing Road to $100k

With a globally renowned investment management firm backing Bitcoin, it’s time to manage your investments and take ownership of where your assets can take you. Through full spectrum mining solutions, from the highest standard of crypto mining equipment to mobilized solutions and mining containers, Wattum empowers you to take control of your mining in anticipation of the $100,000 surge. Learn more today.

We Sell Bitcoin mining equipment

Wattum Equipment

New equipment
New Equipment
Used equipment
Used Equipment

Wattum Management


Production is tracked at all times


Update firmware and drivers


Regularly monitored and rebooted


Fix machines that stop mining


Equipment is routinely tested


Part ordering and equipment repair


Compare electricity vs profits


Switch coins based on profitability


Pools are audited monthly

Wattum Hosting Partners

from 6.3 to 6.9 cents EKIBASTUZ, KAZAKHSTAN

Wattum Mining Pool

Mining Pool

  • Powered by VIABTC
  • Transparency on Profits
  • Dedicated Server with 100% uptime
  • 100% transparency on profits
  • 24/7/365 US Customer Support
Sign up

Mining Pool

  • PPS+ Payouts every 20 minutes
  • Private Nodes for your mining facility
  • Dedicated Server with 100% uptime
  • 100% transparency on profits
  • 24/7/365 US Customer Support
Sign up