Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan
According to JPMorgan, this week’s rally has been driven by institutional investors hedging against inflation with Bitcoin.

Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan NEWS
Bitcoin (BTC) has led a 35% rally this week by soaring far above the $50,000 resistance level and restoring a $1-trillion market capitalization to the asset.

According to a note shared by JPMorgan with clients on Thursday, the recent increase in price for BTC was predominantly attributed to institutional investors looking for a hedge to inflation.

“The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge,” the analysts said, arguing there has been a shift in perception as to the merits of BTC in relation to gold.

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