Official announcements or reports from major financial institutions like JPMorgan, Goldman Sachs, or Bank of America

U.S. Treasury Calls Bitcoin 'Digital Gold,' Sees Tokenization Potential

Dec 7, 2024, 02:15 PM

The U.S. Treasury Department has released a report recognizing Bitcoin as 'digital gold,' highlighting its primary use case in the financial landscape. This acknowledgment comes alongside the Treasury's observation that tokenization could unlock benefits for a broader range of financial assets through programmable, interoperable ledgers. The report's reference to Bitcoin as digital gold implies a potential for significant growth in its value, with one user suggesting that if Bitcoin were to reach the market cap of physical gold, its price could be approximately $665,000 per BTC.