“In the second half of 2025, bitcoin will continue to grow faster than gold thanks to corporate purchases and support from individual US states. This conclusion was reached by JPMorgan analysts, writes The Block. The bank was reminded of the relevance of the so -called Debasement Trade, an investment strategy that provides protection against the depreciation of fiat currencies. If at the end of 2024 she worked on […]”, – WRITE: Businessua.com.ua
In the second half of 2025, bitcoin will continue to grow faster than gold thanks to corporate purchases and support from individual US states. Such The conclusion was reached by JPMorgan analysts, writes The Block.
The bank reminded the relevance of the so -called Debasement Trade – an investment strategy that provides protection against the depreciation of fiat currencies. If at the end of 2024 it worked in favor of both bitcoin and gold, now, according to JPMorgan, this zero game – one asset is growing at the expense of the other.
“From mid -February to mid -April, gold has grown at the expense of bitcoin, but for the last three weeks we have seen the reverse dynamics. We expect that this zero -amount game will last until the end of the year, but catalysts on the side of digital assets create an advantage for the first cryptocurrency, ”the analytical report reads.
After the peak on April 22, the price of gold decreased by almost 8%, while the bitcoin added 18%over the same period. According to analysts, this is also reflected in capital streams: investors bring money from ETF to precious metals and transfer them to spot bitcoin-ETFs and cryptofunds.
The trend is confirmed by data from derivative markets – open interest under gold contracts decreases, while the bitcoin is increasing. At the beginning of the year it was the opposite.
JPMorgan explains this by the influence of specific cryptoderavers. Companies like Strategy and Metaplanet continue to increase reserves. In particular, Strategy has already fulfilled 60% of the target within the 21/21 plan and plans to raise another $ 42 billion by 2027, analysts said.
The Bank also mentioned the initiatives of the states of New Gampshire and Arizon, which allowed the use of bitcoin for investment of state funds.
“Expanding this list can be a stable positive trigger,” JPMorgan said.
Among the additional factors is the development of the derivative market. The bank mentioned Coinbase Agreements on the purchase of Deribit, as well as Kraken’s intentions to buy Ninjatrader and obtain a Gemini License in the EU to work with derivatives.
Recall that UBS recorded the transition of wealthy customers from Asia from dollar assets into bitcoin and gold. And in Galaxy Digital, bitcoin was called a digital analogue of gold, whose popularity is growing among funds and even governments.
Earlier, NYDIG and QCP Capital have stated BTC positions as a protective asset – especially after the conditional “release day” in the United States for President Donald Trump.
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