Bitcoin’s $400bn BOOST: BTC to soar as ’digital gold’ of the future | City & Business | Finance

Bitcoin has enjoyed a positive week with headlines from around the world sending the price above $7,500 for the first time in a month.

The crypto community are keen for the momentum to continue and after some much-needed regulatory clarity from the central banks of G20 nations, and interest from the world’s leading asset manager Blackrock, a return to $10,000 they say is now all the more likely.

However, despite all the talk of big banks and regulation, one expert believes that the future for bitcoin is as “digital gold” – a store of value rather than a medium of exchange, or digital currency.

Gabor Gurbacs, director of digital asset strategies at VanEck/MVIS told CNBC that the continuing rise of bitcoin will lure traditional investors out of physical gold and into “digital gold”.

He said: “Gold today has around $7 trillion outstanding. If you take, say, 5 to 10 percent — I’ll let everyone do the math — bitcoin has upside.”

In short, with bitcoin’s current market…