JPMorgan "Bitcoin undervalued compared to gold"…also indicates potential for upside

Bitcoin (BTC) has been analyzed as being undervalued compared to gold.

On the 28th (local time), CoinDesk reported that global investment bank (IB) JPMorgan said in a report released that "Bitcoin is excessively undervalued relative to gold," attributing it to "the record-low volatility Bitcoin has recorded." JPMorgan said "Bitcoin's 6-month moving volatility fell from about 60% earlier this year to a record low of 30% now," and that "Bitcoin's volatility is only about half that of gold."

JPMorgan emphasized that "Bitcoin is becoming an increasingly attractive asset in institutional portfolios." JPMorgan analyzed that "(Bitcoin's) corporate adoption is accelerating through index inclusion," and that "'this is causing 'passive capital inflow' to occur."

The possibility of Bitcoin price increases was also mentioned. JPMorgan said Bitcoin's market capitalization would need to rise by about 13%. CoinDesk reported, "According to JPMorgan's model, Bitcoin is undervalued against gold by about $16,000," and "this suggests additional upside potential," it said.