【JPMorgan: Inflation and Geopolitical Risks May Sustain Demand for Gold and Bitcoin in the Long Term】According to Golden Finance, JPMorgan pointed out in a research report that as investors prepare for ongoing geopolitical uncertainties, the so-called 'devaluation trades' flowing into gold and bitcoin will 'persist.' The bank stated that as investors increasingly seek tools to hedge against geopolitical risks and inflation, gold and bitcoin 'seem to have structurally become more important components of investor portfolios,' citing 'record capital inflows into the cryptocurrency market in 2024.' JPMorgan explained that 'devaluation trades' refer to the growing demand for gold and bitcoin driven by various factors, including 'structurally higher geopolitical uncertainty since 2022, sustained high uncertainty regarding long-term inflation outlooks, and concerns over the 'debt devaluation' caused by persistently high government deficits in major economies.'

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