JPMorgan believes more companies will invest in Bitcoin

2020-12-14 14:41

The leading investment bank estimates that institutions will inject about $600 billion into Bitcoin

According to a recent Bloomberg report, the bank predicts that many companies will soon get exposure to Bitcoin (BTC). There will be a potential consequent inflow of up to $600 billion into the digital asset. To arrive at this figure, insurance companies from Asia, Europe and the US will need to set aside 1% of their assets into BTC.

The claim comes after the insurance firm MassMutual made a $100 million purchase in BTC.  The insurance company has made a considerable investment in Bitcoin, although its goal was getting exposure to the crypto sector. Crypto analysts believe that institutional demand for digital assets is on the rise.

The domino effect

The Massachusetts Mutual Life Insurance Company isn’t the only institution that has poured its funds into Bitcoin. MicroStrategy and Square have already acquired millions worth of Bitcoin. These recent investments indicate that wealthy investors and even giant institutions are all looking to get a piece of BTC.

Regarding the Massachusetts-based firm’s move to purchase Bitcoin, JPMorgan quantitative strategist Nikolaos Panigirtzoglou asserted, “MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors. One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example”.

Panigirtzoglou maintains that MassMutual could be a trendsetter, and its BTC foray could trigger other companies to follow suit in getting exposure to Bitcoin.

Contrasting views

While Panigirtzoglou’s views on Bitcoin seem to be optimistic, the bank’s chief executive Jamie Dimon appears to think otherwise.

Last week, strategists at JPMorgan, including Panigirtzoglou, claimed that the massive adoption of crypto in mainstream finance is coming at the expense of the gold market.

Bitcoin recently surpassed its all-time high after a strong price rally. Its prices have since dipped slightly, but the market is still bullish. The leading cryptocurrency has a current market cap of $355 billion and remains dominant in the cryptocurrency sector. Gold, on the other hand, has seen massive outflows since October.

The post JPMorgan believes more companies will invest in Bitcoin appeared first on Coin Journal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66756.42 (+0.04%)
Объем 24H $16.988b
Изменеия 24h: -0.11 %, 7d: 8.55 %
Cегодня L: $66619.5 - H: $67668.16
Капитализация $1315.112b Rank 1
Цена в час новости $ 19147.28 (248.65%)

bitcoin jpmorgan invest believes companies billion journal

Источник: coinjournal.net

bitcoin jpmorgan → Результатов: 126


Фото:

As Grayscale’s Big BTC Unlock Nears, JPMorgan Puzzles Over $23,000 Bitcoin Price ‘Fair Value’

Bitcoin has continued to play out in tight range since it found ground in the $29,000 area, a support area that was last established on diverse dates in January this year. Whereas most observers seem to only harbor a bullish bias, JPMorgan has constantly held that that Bitcoin could further drop to $23,000 before gathering […]

2021-7-14 22:12


Джейми Даймон советует держаться подальше от Bitcoin

Генеральный директор американского банковского гиганта JPMorgan меняет свое мнение о Bitcoin как перчатки: от заявления о возможном принятии, до полного отрицания. JPMorgan снова говорит о Bitcoin Несколько лет спустя, когда JPMorgan Bank решил перейти на продукты, ориентированные на криптовалюту, мы могли ожидать, что Джейми Даймон изменит свое мнение по вопросу о Биткойнах и криптовалютах.

2021-5-29 13:36


JPMorgan Analysts Call for $146,000 Long-Term Bitcoin Price Target

With the increased institutional adoption of Bitcoin due to worldwide economic and social factors, the leading cryptocurrency can no longer be ignored. According to JPMorgan analysts via Bloomberg, gold may continue to lose market share: “Bitcoin may have the potential for substantial further gains over the long term as it competes with gold for investment … Continued The post JPMorgan Analysts Call for $146,000 Long-Term Bitcoin Price Target appeared first on BeInCrypto.

2021-1-6 16:36


Фото:

В JPMorgan рассказали о реальной цене bitcoin

Исследователи американского финансового холдинга JPMorgan считают, что реальная стоимость bitcoin остается ниже той, что установлена в отношении актива на рынке. Соответствующие выводы специалистов представлены в материале Bloomberg.

2020-1-13 12:34


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

JPMorgan holds Bitcoin ETFs from BlackRock, Bitwise, Fidelity

JPMorgan holds shares in BlackRock, Bitwise, and Fidelity Bitcoin ETFs, with investments exceeding $1 million, according to SEC filings. The post JPMorgan holds Bitcoin ETFs from BlackRock, Bitwise, Fidelity appeared first on Crypto Briefing.