One of the ETPs (Exchange Traded Funds), the GrayScale Bitcoin Trust outperforms the Gold ETFs (Exchange Traded Funds) and is an institutional investor like a family office. It may be supported by the investment demand of. It is described in the November 6 report of JPMorgan obtained by CoinDesk.
“Some investors, such as family offices, who previously invested in gold ETFs, have expressed the idea that Bitcoin (BTC) may be seen as an alternative to gold.”
Analysts say the demand for Bitcoin is driven not only by millennials, but also by institutional investors such as family offices and asset managers, and the Grayscale Bitcoin Trust is doing well. Explain the performance.
“As we emphasized in our previous report on October 23, the long-term rise in Bitcoin is quite likely, but Bitcoin will compete equally with gold as an’alternative’currency and the private sector to gold ETFs. Bitcoin’s market capitalization will need to increase tenfold from its current level in order to be on par with the investment. ”
Related article: Bitcoin is a “risk” asset, room for price increases if it becomes a payment method: JP Morgan
Analysts also pointed out that “Bitcoin seems to be approaching the level of overbought due to the surge.” It could trigger a plunge.
JPM_Flows_ & _Liquidity_2… by CoinDesk
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