Fidelity Global Macro Director: Bitcoin Market Value Expected to Reach a Quarter of Gold Market

Fidelity Global Macro Director Jurrien Timmer predicts that Bitcoin will win nearly a quarter of the current gold market, which is mainly held by banks and private investors. Timmer analyzed the total market value of gold (excluding jewelry and industrial uses) and Bitcoin, predicting that the market value of Bitcoin could reach $1.5 trillion, which is $500 billion higher than the existing circulating Bitcoin's market value. "I estimate that Bitcoin will eventually account for about a quarter of the monetary gold market," said Timmer. He speculated that monetary gold as an investment reserve accounts for approximately 40% of total ground gold, valued at around $6 trillion. Timmer also pointed out that although so far bitcoin's growth has been consistent with stock-to-flow models, once its total quantity reaches its upper limit of 21 million coins and new coin production stops, this model may no longer apply.