According to a report published by Market Insider, the JP Morgan research states that institutions’ investors view Bitcoin as an effective inflation hedge over gold.
Read: Bank Of America Report Shows 27% Of The United States Population Will Be Using Crypto In 2022
Microstrategy CEO, Michael Saylor’s comments came after JP Morgan said Institutional Investors Consider Bitcoin as an Inflation Hedge and favor Bitcoin over gold.
“The implicit endorsement of Bitcoin by major banks and regulators is going to accelerate the collapse of #Gold and the rise of #Bitcoin as the preferred safe-haven store of value for both institutional and retail investors.”
The implicit endorsement of Bitcoin by major banks and regulators is going to accelerate the collapse of #Gold and the rise of #Bitcoin as the preferred safe-haven store of value for both institutional and retail investors.https://t.co/7os1ojenHs
— Michael Saylor⚡️ (@michael_saylor) October 7, 2021
JP Morgan report writes:
“The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge. Institutional investors appear to be returning to Bitcoin perhaps seeing it as a better inflation hedge than gold.”
The bank also highlights two more factors that are driving institution investors interest:
“The recent assurances by US policymakers that there is no intention to follow China’s steps towards banning the usage or mining of cryptocurrencies.”
Read: SEC Chairman, Gary Gensler Confirms That SEC Has No Plans To Ban Crypto
Read: Federal Reserve Chairman, Jerome Powell Said Fed Has No Intention To Ban Bitcoin Or Crypto
and,
“The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador’s bitcoin adoption.”
Read: President Nayib Bukele Shares First Results Of El Salvador Mining Bitcoin With Volcanoes
Contrary to other analysts, JPMorgan did not mention the possibility of the approval of Bitcoin ETFs as a key element in the rise of BTC prices and investors’ interests.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
