Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Goldman Sachs analyst Zach Pandl said in a research note to clients. Citing bitcoin’s $700 billion market capitalization, compared to the around $2.6 trillion worth of gold owned as an investment, Goldman Sachs said that the cryptocurrency currently has a 20 per cent share of the “store of value” market. Bitcoin will “most likely” become a bigger proportion over time, Goldman Sachs said, in a list of 2022 predictions. In a hypothetical scenario in which bitcoin grabs a 50 per cent share of this market, its price would reach just over $100,000, the note said. Bitcoin was trading around $46,073 on Wednesday, having struggled to make gains after falling sharply in early December. In November, it had hit an all-time high of $69,000. “Bitcoin may have applications beyond simply a “store of value” – and digital asset markets are much bigger than Bitcoin – but we think that comparing its market capitalization to gold can help put parameters on plausible outcomes for Bitcoin returns,” Pandl wrote.