Three Fundamental Catalysts Are Driving the Current Bitcoin Rally, According to Banking Giant JPMorgan

Three Fundamental Catalysts Are Driving the Current Bitcoin Rally, According to Banking Giant JPMorgan


Market analysts from banking giant JPMorgan say they’ve identified three reasons behind Bitcoin’s latest surge.

In a note to Business Insider, the banking titan says that one catalyst of Bitcoin’s recent rally from the $40,000 level to $55,000 is the growing belief that it’s a better inflation hedge than gold.

 

Trending: “I told you so!”…Senator Rand Paul Calls Fauci Out for Lying to Congress After NIH Confirms They Funded Wuhan’s Gain of Function Research [Video]

“Institutional investors appear to be returning to Bitcoin, perhaps seeing it as a better inflation hedge than gold…

The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge.”

Since the beginning of 2021, $10 billion has moved out of gold ETFs while $20 billion has gone into BTC funds, according to the bank.

According to JPMorgan, another reason why BTC skyrocketed past the $1 trillion

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend