JPMorgan: Bitcoin’s Record Run Is Being Driven By Inflation

Bitcoin Magazine

  • Inflation concerns are driving Bitcoin’s record run, JPMorgan strategists said.
  • Gold is failing to perform as an inflation hedge, prompting investors to rotate into BTC.
  • “We believe the perception of Bitcoin as a better inflation hedge than gold is the main reason for the current upswing,” the strategists said.

Concerns that inflation will keep rising and not be transitory is the main driver for the Bitcoin price pushing to new highs  not the first U.S. bitcoin futures exchange-traded fund (ETF)  JPMorgan strategists said, according to a Bloomberg report.

“By itself, the launch of BITO is unlikely to trigger a new phase of significantly more fresh capital entering Bitcoin,” wrote strategists, per the report, referring to the ProShares Bitcoin Strategy ETF. “Instead, we believe the perception of Bitcoin as a better inflation hedge than gold is the main reason for the current upswing, triggering a shift away from gold ETFs into Bitcoin funds since September.”

How To Get Free Crypto  

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.