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.
...
