JP Morgan "Bitcoin (BTC) Expected to Continue as a Defense Against Currency Depreciation"
JH Kim
Summary
- JP Morgan reported that Bitcoin and gold are gaining attention as hedges against geopolitical risks and inflation.
- They stated that these assets will play an important role in investors' portfolios.
- It is expected that Bitcoin will continue to gain popularity as a trade to defend against currency depreciation.
According to Cointelegraph, a cryptocurrency-focused media outlet, JP Morgan stated in a recent research note that "Gold and Bitcoin (BTC) are increasingly being recognized as means to hedge against geopolitical risks and inflation, becoming important components in investors' portfolios."
JP Morgan anticipates that the so-called debasement trade, aimed at defending against currency depreciation, will continue in the future.
Meanwhile, BTC is trading at $101,992.21, up 4.01% from the previous day, based on the Binance Tether (USDT) market as of 02:09 on the 7th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
