JPMorgan sees US$146,000-plus bitcoin price
NEW YORK: Bitcoin may have the potential for substantial further gains over the long term as it competes with gold for investment flows, according to JPMorgan Chase & Co.
Bitcoin’s market capitalisation of around US$575bil would have to rise by 4.6 times – for a theoretical bitcoin price of US$146,000 – to match the total private sector investment in gold via exchange-traded funds or bars and coins, strategists led by Nikolaos Panigirtzoglou wrote in a note.
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