JPMorgan analysts suggest Bitcoin may outperform gold

JPMorgan strategists, led by Nikolaos Panigirtzoglou, have shifted their outlook, suggesting that Bitcoin could outperform gold in the coming months. The bank's volatility-adjusted model estimates a theoretical value for Bitcoin near $170,000. While gold has benefited from the debasement trade, the bank views Bitcoin as offering a better long-term entry point when adjusted for risk. JPMorgan has also integrated Bitcoin ETFs as collateral and launched its JPMD deposit token on Base.