If Bitcoin increases its market share against gold, its price could be $170,000.

Recent developments in the cryptocurrency world continue to attract the attention of investors. One of the prominent figures, CryptoQuant CEO Ki Young Ju, stated that Bitcoin's (BTC) current market share against gold is still at the level of %6. Ju mentioned that if this rate rises to %10, the price could reach $170,000.

Ju expressed that Bitcoin is still in the early stages of its role as "digital gold," emphasizing that it has more potential in this regard. According to current data, Bitcoin's market value is approximately $2.1 trillion, while gold's total market value stands at $29.7 trillion. This significant gap presents a considerable growth area for Bitcoin.

If Bitcoin’s market share in the gold market reaches %10, there is a high possibility of a substantial price increase. For this scenario to materialize, Bitcoin must become a long-term store of value and a digital alternative to gold. Experts point to the recent surge in ETF approvals, strengthening institutional investments, and macroeconomic uncertainties as signs for this potential to be realized.

Ki Young Ju's statements indicate that Bitcoin is still at the beginning of its "digital gold" narrative. Investors should closely monitor the increase in Bitcoin's market share and potential price movements during this process.