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This week’s launch of the ProShares Bitcoin Strategy Exchange-Traded Fund (stock ticker BITO) may have aided the cryptocurrency’s recent price surge to an all-time high, though the perception of bitcoin as an inflation hedge over gold is probably a bigger factor, a JPMorgan strategist wrote Thursday. Original Source
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This episode is sponsored by NYDIG.Download this episodeLast year, Paul Tudor Jones wrote a paper called “The Great Monetary Inflation” that would end up creating narrative motivation for many traditional retail and institutional investors to allocate to bitcoin as an inflationary hedge. On today’s episode, NLW looks at the rising discussion
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Join Cryptox host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown:Then, special guest Big Cheds shares some technical analysis on trending charts, the
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Bitcoin (BTC) broke its all-time high price level following the launch of ProShares’ Bitcoin Strategy exchange-traded fund (ETF), BITO, on Tuesday, but JPMorgan Chase strategists believe the key driver behind the price jump is investor concern over inflation.The BITO launch, which saw the highest-ever first-day natural volume for an ETF,
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Billionaire hedge fund manager Paul Tudor Jones says that bitcoin is currently “winning the race against gold.” He added that the cryptocurrency is his preferred inflation hedge over gold. Paul Tudor Jones Chooses Bitcoin Over Gold Paul Tudor Jones, the founder of asset management firm Tudor Investment Corp., talked about bitcoin being
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Billionaire investor Carl Icahn warned Tuesday that the next market crisis may be on the horizon, and Bitcoin could be the best hedge against inflation.With the United States government continuing to stimulate the economy, Icahn stated that he fears the dollar is becoming more devalued and that the price of
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Bitcoin (BTC) has led a 35% rally this week by soaring far above the $50,000 resistance level and restoring a $1-trillion market capitalization to the asset. According to a note shared by JPMorgan with clients on Thursday, the recent increase in price for BTC was predominantly attributed to institutional investors
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Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies. JPMorgan Sees Renewed Interest in Bitcoin JPMorgan published
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As of 11:16 UTC, the cryptocurrency was trading 8% higher on the day near $47,400. The broader crypto market is also positive, with native cryptocurrencies of smart-contract blockchains like VeChain, Tezos, and Elrond gaining more than 8%. Ethereum’s ether traded 7% higher at $3,245. Source
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Data from blockchain analytics firm Chainalysis suggests that Bitcoin (BTC) may not be the hedge against inflation that many seem to believe it is.“Right now, we can't show a statistically significant correlation between inflation in the US and Bitcoin prices, but we know anecdotally that many people invest in Bitcoin as a hedge
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