Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report
In a research report by JPMorgan’s global markets team, analysts noted that Grayscale Bitcoin Trust’s flow trajectory outperformed gold exchange traded funds.
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JPMorgan has highlighted evidence of institutional demand for bitcoin and investors moving from gold exchange-traded funds (ETFs) to the cryptocurrency. The firm points out that bitcoin demand is driven not only by younger retail investors but also by institutional investors, such as family offices and asset managers. Gold ETF Investors Moving to Bitcoin JPMorgan’s Global Markets Strategy team released a report Friday that discusses bitcoin. It also compares the flow trajectories for Grayscale Bitcoin Trust (GBTC) and gold exchange-traded funds (ETFs). The report reads: Corporate....
Per a Bloomberg report, around half of the family offices in business with Goldman Sachs want to invest in Bitcoin and cryptocurrencies. The banking giant conducted a survey with participation from around 150 family offices with a global presence. Data provided by Goldman Sachs revealed that 15% of the participants already have exposure to Bitcoin […]
"The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced," a JPMorgan managing director wrote in the report.
The investment bank says gold could languish for years as Bitcoin’s popularity grows. Growing mainstream acceptance of Bitcoin (BTC) as a reserve asset is having a direct impact on gold, setting the stage for a major shift in institutional allocation between the two assets, according to analysts at JPMorgan Chase.Quantitative strategists, including Nikolaos Panigirtzoglou, believe that Bitcoin’s digital gold narrative will draw investors away from precious metals, possibly for years to come, leading to a large divergence in price between the two assets.The bank said Bitcoin only accounts....
Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies.
JPMorgan Sees Renewed Interest in Bitcoin
JPMorgan published a research note Thursday stating that institutional investors are returning to bitcoin. Citing the trend of money flowing out of gold into BTC, the firm’s analysts wrote:
Institutional investors....