JPMorgan: Bitcoin exceeds gold customizations in investors' portfolios

 

JPMorgan:

Bitcoin exceeds gold

customizations in investors' portfolios

According to an analyst at JPMorgan on March 15

bitcoin has surpassed gold in terms of investor portfolio allocation

When taking into account fluctuations.

Specifically :

• bitcoin customization is 3.7 times greater than that for gold.

• In addition, they noted a net flow of $9 billion to bitcoin funds traded

• The index since its inception, offsetting flows from Graiskill.

Cryptocurrency market rises 40%

while bitcoin core funds attract $10 billion

Nikolaos Panigirzoglu

• executive director at JPMorgan

• revealed in his Friday post on X that

• the allocation of bitcoin in investors' portfolios

• outstrips gold by 3.7 times when adjusted for volatility.

The analyst highlighted the accelerated flows of more than $10 billion to

Bitcoin's core trading funds since

It agreed in January :

and claimed that the market size of bitcoin funds

traded the index could reach $62 billion Using gold as standard.

Another JP Securities report predicts that the market for bitcoin core trading

funds could expand to up to $220 billion in the next two to three years

expecting a significant impact on bitcoin price due to increased capital flows.

The approval of

bitcoin core trading funds

has already positively affected the cryptocurrency market.

1. Over the past month
2. the total market value has risen
3. by nearly 40% to $2.2 trillion.

Bitcoin and Ethereum were the main drivers

increasing by 45% and 47% respectively.

Alternative currencies also benefited :

seeing double-digit gains, along with further growth in the decentralized

finance sector (DeFi) and the non-interchangeable code sector (NFT).

Bitcoin's core trading funds saw a marked increase in net sales

reaching $6.1 billion in February compared to $1.5 billion in January.

In addition, the value of bitcoin increased

by 31% in one month, reaching a new record high that increases

For $73,800 :

 a rise coincided with flows into Bitcoin's core trading funds.

1. These trends have also reflected on
2. cryptocurrency mining stocks
3. also reaching new records in February.

Bitcoin Core Funds Trading Index Forecasts Growth:

Analysts' Forecast Indicates $62 Billion Market Over 3 Years

At the beginning of this month

JPMorgan analysts estimated that approximately 7% 

($230 billion) of global gold investments

$3.3 trillion is kept in boxes, while the rest is stored in bars and coins.

Inspired by the gold market, analysts applied a volatility rate of

3.7 to estimate a potential volume of $62 billion.

for Bitcoin's ETF market in the next two to three years.

However :

• this figure may mainly reflect the transfer of

• current investments from other instruments to ETFs

• Instead of the entire new capital entering the market.

Since its launch

bitcoin boxes have attracted instant market traded

• (excluding bitcoin confidence from Griskill)

• Nearly $19 billion in cumulative flows

• representing about half of the $36 billion turnaround

Expected by JPMorgan for the entire year 2024.

With the calculation of $10 billion in cash flows from GBTC

• Net flows to Bitcoin's instant market funds remain at $9 billion

• indicating strength

• The attractiveness of these boxes.

It is worth noting that net sales of bitcoin funds traded in the instant market have also seen a significant rise It reached $6.1 billion in February, compared with $1.5 billion in January.

The largest daily inflows into Bitcoin's instant

market funds peaked at more than $1 billion on March 12.

With analysts speculating that this figure may rise further when cash flows from

the Bitcoin trust fund from Griskill stop.

As Bitcoin's halving approaches more than a month later

expectations are for an increase in demand and a supply crisis.

• Over the next six months. Ki Young Jo

• CEO of CryptoQuant digital currency analytics,

• This development should be fuel to increase demand.

After a long

cryptocurrency winter period lasting for nearly three years

• approval of funds has affected

• Bitcoin traded in the instant market as a driving factor

• for bitcoin's renewable positive price movement

It reached the highest price in the last revolution cycle near $69,000. Institutional

accreditation was also opened, led by the world's largest asset manager, BlackRock.

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