Bitcoin Is ‘Digital Gold’ And Could Reach $100k, According To Strategist

Let’s face it – we all thought that Bitcoin was at its highest at $100. And then we thought the same when it reached $1,000. And then again when it reached $5,000. So, is there a limit to the growth of Bitcoin? Bitcoin is digital gold

The truth is, Bitcoin could be the ‘digital gold’ for millennials and the cryptocurrency could achieve the $100k range very easily, according to a strategist named Tom Lee. As he said in an interview with CNBC last week: Bitcoin is digital gold

“Bitcoin is valued as if it is a small company today. Over the next 10 years, the new generation of millennials is going to see it as a replacement for gold – which means that it is essentially digital gold for another generation.” Bitcoin is digital gold

Currently, Bitcoin’s price is somewhere near $13,000. Even though there might be a correction, the virtual currency passed the $12,000 mark in an easy way and is now approaching to the new milestone. The exponential ascent from only 6 cents seven years ago and less than $1,000 at the start of this year has been a thing that is raising eyebrows as we speak. Bitcoin is digital gold

“If bitcoin captures 5% of just the gold market, it is $25,000. Still, 5% seems like an awfully small number, so let’s say it’s 10 or 15 – which could easily make Bitcoin sit in the $100,000 range.” according to Lee. Bitcoin is digital gold

Michael Novogratz, a former Fortress hedge fund manager couldn’t agree more with this statement. In an interview, he predicted that bitcoin could ‘easily’ be at $40,000 at the end of 2018. So, what does this mean for the currency?

It basically means that it is growing unlike ever before and more and more people are turning to it. According to Lee and Novogratz, it is now or never to invest in it.