$BTC Bitcoin is becoming more appealing than gold - JPMorgan
After the escalation of the conflict in the Middle East, investors have started to actively choose BTC over gold as a safe haven asset.
Bitcoin ETFs have seen inflows for the third month in a row, while gold ETFs have yet to recover from March's outflows.
JPMorgan refers to this as a rotation into the "debasement trade" - strategies to protect against fiat devaluation, inflation, and geopolitical risks through assets like gold and BTC.
Demand is coming not only through ETFs. Institutions are also ramping up their exposure via CME futures.
A separate factor is Michael Saylor. The strategy remains the largest corporate holder of BTC and continues to aggressively increase purchases. If the pace continues, the company's buying volume this year could approach $30 billion.
After the escalation of the conflict in the Middle East, investors have started to actively choose BTC over gold as a safe haven asset.
Bitcoin ETFs have seen inflows for the third month in a row, while gold ETFs have yet to recover from March's outflows.
JPMorgan refers to this as a rotation into the "debasement trade" - strategies to protect against fiat devaluation, inflation, and geopolitical risks through assets like gold and BTC.
Demand is coming not only through ETFs. Institutions are also ramping up their exposure via CME futures.
A separate factor is Michael Saylor. The strategy remains the largest corporate holder of BTC and continues to aggressively increase purchases. If the pace continues, the company's buying volume this year could approach $30 billion.