Bitcoin will eat gold's market share, according to JPMorgan
Cointelegraph
Published Dec 09, 2020 12:06PM ET
Updated Dec 10, 2020 12:40AM ET
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 (NYSE:JPM).
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.
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Written By: Cointelegraph
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