As gold prices hit new highs, more financial experts see Bitcoin as a preferred investment. Daniel Roberts believes Bitcoin will surpass gold in market cap by 2030, reaching $900,000 per unit.
Roberts' Prediction
Daniel Roberts, CEO and founder of IREN, is known for his views on cryptocurrency. He asserts that Bitcoin, with its safe-haven asset characteristics, could match the market cap of gold. He believes Bitcoin needs a tenfold increase in price to match gold's $19.3 trillion market cap. Roberts is confident this will happen by 2030, with Bitcoin prices exceeding $1,000,000 due to institutional investor demand.
Bitcoin vs Gold
Roberts isn't the first to label Bitcoin as 'digital gold'. Many experts claim Bitcoin is superior to gold as a safe-haven asset. In 2023, Ark Invest CEO Cathie Wood stated Bitcoin is a new asset class more appealing to younger generations than gold. She also noted Bitcoin as an effective inflation hedge. Billionaire Mark Cuban agrees, stating both Bitcoin and gold share qualities as stores of value, but Bitcoin surpasses gold.
Bitcoin continues to solidify its position as a potential competitor to gold, gaining investor interest with its unique features in current economic conditions. Predictions for its value reaching parity with gold remain optimistic, despite potential market fluctuations.
