JP Morgan "Bitcoin to Rise More Than Gold in the Second Half of This Year Due to Increased Corporate and State Government Purchases"

Global investment bank JP Morgan has forecasted that Bitcoin will show a greater upward trend than gold in the second half of this year. Continuous purchases by corporations and the strategic asset inclusion by U.S. state governments are expected to act as factors increasing the potential for a rise.

On the 15th (local time), according to the cryptocurrency specialist media The Block, JP Morgan stated in its latest report, "In the second half of this year, Bitcoin will be in a more favorable position than gold," and diagnosed that "the flow between the two assets has operated as a zero-sum structure, but recently a phase favorable to Bitcoin is unfolding."

Nikolaos Panigirtzoglou, the head of the research team, explained, "From mid-February to mid-April this year, the rise in gold prices negatively affected Bitcoin, but in the past three weeks, Bitcoin has been pushing out gold and rising." He added, "This trend could continue in the second half, and Bitcoin's unique positive factors are likely to create additional upward momentum."

The report analyzed that this upward trend is not simply due to a decline in gold prices. It cited the recent rise as being primarily due to ▲ increased corporate purchases of Bitcoin ▲ strategic asset inclusion by some U.S. state governments ▲ maturation of the institutional derivatives market.

In particular, states like New Hampshire and Arizona have allowed Bitcoin to be held as part of state assets and have announced policies for creating digital reserves based on staking income and airdrops. The announcement of aggressive purchase plans by some listed companies, such as Strategy and Metaplanet, is also supporting the optimism.

JP Morgan evaluated, "In the second half, Bitcoin could outperform gold based on institutional trust and increased demand."