JPMorgan Positions Crypto as Emerging Macro Asset Amid $5 Trillion Gold Benchmark
JPMorgan views crypto, particularly Bitcoin, as an emerging macro asset class, with volatility aligning closer to traditional stores of value like gold.
Bitcoin’s market cap requires a 13% uplift to $126,000 per coin to parity with gold on risk-adjusted terms, signaling undervaluation.
Institutional adoption, including corporate treasuries holding over 6% of BTC supply, is dampening volatility and boosting portfolio integration.
Cryptocurren…
JPMorgan Resets Bitcoin Miner Ratings
JPMorgan upgrades Cipher Mining and CleanSpark to overweight, citing superior hash rate growth and cost efficiency in the evolving bitcoin mining landscape.
Price targets trimmed for MARA and Riot Platforms, reflecting concerns over higher energy costs and potential post-halving pressures on profitability.
Broader reset signals caution for the sector as bitcoin prices stabilize, with analysts forecasting varied performance among miners through…
