JPMorgan managing director Nikolaos Panigirtzoglou said in a recent statement. of Bitcoin He explained that its distribution in investor portfolios already exceeds that of gold when adjusted for volatility.
Panigirtzoglou highlighted that there has been a net inflow of $9 billion into Bitcoin Exchange Traded Funds (ETFs) since their inception. This figure also takes into account outflows from digital currency asset manager Grayscale. Panigirtzoglou also suggested that the potential market size for Bitcoin ETFs could reach a staggering $62 billion if gold is used as a benchmark.
February cryptocurrency It had been a particularly optimistic period for the market. The total market value increased by approximately 40% compared to the previous month, reaching 2.2 trillion dollars.
In addition, JPMorgan announced yesterday that the rally in Bitcoin price was based on individual investors and some institutional investors aiming to make speculative investments. In addition, analysts also touched upon comments that investors left gold ETFs and switched to BTC ETFs, arguing that this was not true and that investors purchased both gold ETFs and BTC ETFs.
*This is not investment advice.
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