JPMorgan research analysts have just published a new report in which they stated that Bitcoin seems undervalued compared to gold, because the exchange rate variability of this cryptocurrency reached historically low levels. The financial giant noticed that the six -month variability dropped from about 60%, how much was registered at the beginning of the year, to a record low level of 30%. Bitcoin became stable as gold.
JPMorgan focuses on Bitcoin?
This analysis once again shows that the bank has changed how to look at BTC for years. Over the years, his CEO Jamie Dimon was considered one of the greatest opponents of cryptocurrencies. He even said that he would dismiss everyone from work he would find out that he was investing in BTC. Thus, he stood in one row with, among others Warren Buffett and other investors of the old date.
Completely different moods probably had to prevail among the bank’s lower -level employees. A team of institution analysts has long suggested increases on the BTC/USD chart.
JPMorgana analysts, under the leadership of Nikolaos Panigirtzoglou, have now associated the falling Bitcoin exchange rate variability with accelerated purchases made by the financial departments of corporations, which currently have over 6% of total BTC supply. This is to resemble the way the quantitative loosening of central banks once suppressed variability on the bond market.
Today, the leader on the corporate market of BTC owners is Strategy. It has 632 457 BTC, however, the company continues its aggressive accumulation strategy, so it will probably add more coins to the balance sheet.
Bitcoin course
According to JPMorgan models, the Bitcoin course may increase to USD 126,000, so that the market somehow adapts its price to this gold. Today for 1 BTC you pay $ 111 438. There is a correction of recent increases on the market.
The analysis appears at a special time: when new participants join the trend of corporate purchases, companies are trying to compete for BTC with “old” players on the market. Currently, over 180 companies in the world have Bitcoin as a strategic reserves, it is assumed that by the end of 2025, 59% of institutional portfolios will contain this cryptocurrency.
