JPMorgan: Bitcoin is more attractive than gold in the long term
According to JPMorgan, the recent surge in gold prices and volatility has made Bitcoin more appealing in the long run, with prices potentially reaching $266,000.
In a newly released report, JPMorgan compares the performance as gold prices have significantly outperformed Bitcoin (BTC) since October of last year. Gold prices have also been more volatile, leading to BTC now being "even more attractive compared to gold in the long term." They added that the volatility ratio of Bitcoin to gold has decreased to about 1.5 times - a record low - making BTC increasingly appealing on a volatility-adjusted basis.
According to the analysis framework, Bitcoin's market capitalization would need to increase to a price level of approximately $266,000 to match the scale of private sector gold investment, estimated at around $8 trillion, excluding the amount of gold held by central banks. However, they emphasized that this is an "unrealistic" target for this year, intended only to illustrate BTC's long-term price increase potential when negative sentiment reverses and this asset is once again viewed as an attractive hedge equivalent in severe risk scenarios.#Write2Earn $BTC
