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Home»News»General Market News»JPMorgan Says Client Interest in Bitcoin is Rejuvenating
General Market News

JPMorgan Says Client Interest in Bitcoin is Rejuvenating

Ranjan YadavBy Ranjan YadavOctober 15, 20211 Min Read
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JPMorgan states institutional investors are exhibiting increasing interest in Bitcoin, as a hedge even beyond gold. JPMorgan’s analysts consider Bitcoin’s recent 35% rally has 3 key reasons, per Business Insider:

  1. “The recent assurances by US policy makers that there is no intention to follow China’s steps towards banning the usage or mining of cryptocurrencies.”
  1. “The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador’s bitcoin adoption.”
  1. “The re-emergence of inflation concerns among investors has renewed interest in the usage of bitcoin as an inflation hedge.”

With no cryptocurrency ban by the U.S. policymakers, JPMorgan states institutional investors are exploring Bitcoin as an inflation hedge.

JPMorgan opines:

Institutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold

Bitcoin, after tasting a US$40,000 low in September, zoomed 35% to soar to a US$1 trillion market valuation, crossing primary resistance levels. 

JPMorgan mentions in the said note that since the dawn of 2021, US$10 billion has taken out of gold ETFs, whereas bitcoin funds have received over US$20 billion.

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