Top Strategist Says Bitcoin Can Overtake Gold: Heres The Timeline and Price Implication
Jurrien Timmer, the director of global macro at Fidelity, has weighed in on the Bitcoin vs. gold debate, stating that the premier asset could come out tops soon.The Bitcoin versus gold superiority debate is a long-standing brawl in the financial market. Both are considered stores of value due to their scarce nature and have continued to thrive in harsh market circumstances, with Bitcoin outperforming in the last decade.While the difference in valuation between gold and Bitcoin is miles off in the current market, analysts believe the pioneering cryptocurrency will catch up due to its impressive growth pace. Jurrien Timmer, Fidelitys director of global macro, shares this sentiment as he weighed in on the topic yesterday.Bitcoin Flipping Gold Is Much PossibleIn an X post on March 28, Timmer highlighted the possibility of Bitcoin overtaking gold. The Fidelity executive insisted that the digital asset could accomplish the daunting feat but admitted it would not happen anytime soon.Timmer shared a permutation on the possible timeline for Bitcoin to match and disrupt golds supremacy. He highlighted that the precious metals valuation has appreciated at a compound annual growth rate (CAGR) of 8% since 1970, with the asset up 17% already this year.His analysis suggested that if gold grows at this rate and Bitcoin follows either the power law curve or the internet S-curve model, the cryptocurrency could catch up in ten to twenty years. An accompanying chart shows that following the power curve model would see Bitcoin match golds valuation by 2035.
Text source: The Crypto Basic
