TOP STRATEGIST: Bitcoin will soar to over $20,000 by cannibalizing gold


Business Insider executive editor Sara Silverstein discusses a recent research note from Fundstrat’s Tom Lee says bitcoin could be a true substitute for gold and cannibalize some of the $7.5 trillion market. Lee estimates the cryptocurrency could be worth $20,300 by 2022. This estimate is based largely on the assumption that bitcoin can increase its share of the “alternative currency” market, which is mostly gold, from 0.7% to 5%.

————————————————–

Follow BI Video on Twitter: http://bit.ly/1oS68Zs
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

LEAVE A REPLY