$BTC

#CryptoReboundStrategy JPMorgan: Bitcoin and Gold Have Become Structurally Important

The “depreciation trade” trend will continue in the long term as the share of gold and bitcoin in investor portfolios expands, according to JPMorgan analysts, The Block writes.

“The rise in gold prices over the past year has gone well beyond the moves implied by changes in U.S. dollar and bond yields, likely reflecting the re-emergence of [risk hedging strategy],” the experts noted.

Record inflows into the cryptocurrency market in 2024 also indicated that bitcoin has become a structurally important instrument for market participants.

JPMorgan called the past year a “pivotal” one for the digital asset industry. According to their calculations, the total capital inflow into the direction over 12 months amounted to about $78 billion. Of this, $27 billion came from ETFs, $14 billion from CME futures, $14 billion from crypto venture funds, $22 billion from MicroStrategy bitcoin purchases, and $1 billion from miner deals.