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Thursday, December 31, 2020 9:04:50 PM
This from JPM:
JPMorgan meanwhile is also starting to point out Bitcoin's increasing popularity among traditional investors. In fact, the investment bank giant sees a lot more upside potential from Bitcoin as "digital gold," compared to the already "very advanced" adoption of gold.
In a note to clients, the strategists said:
“The adoption of bitcoin by institutional investors has only begun, while for gold, its adoption by institutional investors is very advanced. If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years.”
Today, Bitcoin's market cap is less than 4% of gold's. This immense upside potential has also prompted other big-name investors to share their predictions that involve Bitcoin challenging and even surpassing gold with its $9 trillion market cap.
{A smart person knows what to say, but a wise person knows whether to say it or not.}
CCTL Baby!
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