BCA Research Says "Bitcoin Is Running to $100K", Explains the Reason That Has Never Been Mentioned

BCA Research, one of the leading independent providers of global investment research, predicted in a recent report that Bitcoin could eventually rise above $100,000. The firm attributes this potential rise to Bitcoin's 'impregnability' feature, which has made it look like gold.

According to Dhaval Joshi, Chief Strategist at BCA Research, Bitcoin and gold are conceptually linked because their shared value stems from their irresistibility. This value is immune to inflation, bank failure, and even government nationalization in the case of Bitcoin.

Joshi argues that Bitcoin's controlled supply protects it from being confiscated by inflation. In addition, the bankruptcy of banks or other financial institutions does not cause the investor to lose their cryptocurrencies. Even if a government bans Bitcoin, it does not amount to a confiscation as long as there is a global network of Bitcoin holders who value their tokens due to their non-seizability.

"The price of Bitcoin will rise as high as $100,000 as the market cap given for non-seizability increases substantially and Bitcoin's share of this market grows significantly," Montreal-based BCA Research said.

Bitcoin hit an all-time high of over $73,000 on March 14 and is up over 70% this year. The launch of U.S. spot Bitcoin ETFs this year and the contraction of Bitcoin's supply ahead of the 'halving' at the end of April have been major factors in BTC's price surge.

Meanwhile, gold also experienced a record rise. Gold bullion prices hit a record high of $2,365.09 on Tuesday. Gold bullion is seen by some investors as a hedge against inflation and geopolitical uncertainties.
The recent sharp rises in both gold and Bitcoin reflect that the market has suddenly increased the value of impregnability. This shows that the ability of both assets to maintain their value in the face of external factors is increasingly recognized.

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