Goldman Sachs: Bitcoin will replace gold

Investment bank worth 96 billion dollars Goldman Sachs believes that Bitcoin is a new gold, the main repository of securities on the world  financial market.

In a report sent to the bank's clients, Goldman Sachs analyst Zak Pandl wrote that the rapid increase in demand for Bitcoin's crypto  currency is caused by growing discontent with regulated monetary systems  and existing banking infrastructures.

In the long term, Pandl noted that digital currencies, such as Bitcoin, will yield lower revenues, but demonstrate a high level of  stability, for example, as gold.

He  wrote: "We need to clarify that as money, the Crypto currency will have  low expected profits in the long run, despite their high profitability  recently. Digital currencies should be viewed as low or zero income, or as assets similar to gold and some other metals".

Nevertheless, Pandle also presented a negative viewpoint on the price  trend of Bitcoin and the exponential growth rates of the crypto-currency  market, sharing the opinion of experts such as the creator of Ethereum  Vitalik Butterin and co-founder Charles Hoskinson.

In December, Buterin said: "The total volume of the token market today is only 0.5 trillion dollars. But did we deserve this? How much do we support censorship-resistant trade for ordinary people? The low added value for each user using the blockchain is fine, but then you have to compensate for it with the volume.

In some cases this is quite important. But this is not enough to say that the level of significance is 0.5 trillion dollars. " But, as Goldman Sachs head Lloyd Blankfein explained in an interview  with CNBC, if Bitcoin is a natural future of fiat money or physical  forms of money in digital currencies, the market estimate of Bitcoin can  easily be justified.
Blankfein  stressed that the abolition of the gold standard and the sudden  introduction of the monetary system were not accepted by individuals and  enterprises in the first place. Over time, the world economy adapted to the currency system and began to use it as the main form of money.

Bitcoin  can lead to a natural transition from fiat currencies to digital  currencies, similar to the transition from gold to the US dollar.