{"id":20111,"date":"2025-01-05T11:39:10","date_gmt":"2025-01-05T09:39:10","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-bitcoin-and-gold-have-become-structurally-important\/"},"modified":"2025-01-05T11:39:10","modified_gmt":"2025-01-05T09:39:10","slug":"jpmorgan-bitcoin-and-gold-have-become-structurally-important","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-bitcoin-and-gold-have-become-structurally-important\/","title":{"rendered":"JPMorgan: Bitcoin and gold have become structurally important"},"content":{"rendered":"<p>The <span data-descr=\"debasement trade \u2014 an investment strategy aimed at protecting capital from inflation and the debasement of fiat currencies, in which investors use assets such as gold and bitcoin\" class=\"old_tooltip\">\u201cdebasement trade\u201d<\/span> trend will persist over the long term as allocations to gold and bitcoin in investor portfolios expand, JPMorgan analysts said, according to <a href=\"https:\/\/www.theblock.co\/post\/333107\/jpmorgan-debasement-trade-bitcoin-gold\">The Block<\/a>.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe rise in gold prices over the past year has gone well beyond the moves implied by changes in the US dollar and bond yields. This likely reflects the re-emergence of [a risk-hedging strategy],\u201d the experts noted.<\/p>\n<\/blockquote>\n<p>Record inflows into the crypto market in 2024 also indicated that bitcoin has become a structurally significant instrument for market participants.\u00a0<\/p>\n<p>JPMorgan described the past year as a \u201cturning point\u201d for the digital-asset industry. By its estimates, cumulative inflows into the space over 12 months were about $78bn.\u00a0<\/p>\n<p>Of that, $27bn went to ETFs, $14bn to <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span> futures, $14bn to crypto venture funds, $22bn were represented by MicroStrategy\u2019s bitcoin purchases, and $1bn by miners\u2019 transactions.\u00a0<\/p>\n<p>According to the analysts, the increase in gold\u2019s share in portfolios is \u201cobvious\u201d when examining the amount of the precious metal held by central banks and private investors.\u00a0<\/p>\n<p>The latter group uses various instruments: physical gold, gold ETFs and other investment products, which currently account for a significant percentage of the total among non-bank investors worldwide.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"703\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally-1024x703.webp\" alt=\"10-Implied-gold-allocation-b-bank-investors-globally\" class=\"wp-image-249109\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally-1024x703.webp 1024w, https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally-300x206.webp 300w, https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally-768x527.webp 768w, https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally-1536x1055.webp 1536w, https:\/\/forklog.com\/wp-content\/uploads\/10-Implied-gold-allocation-b-bank-investors-globally.webp 1710w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: The Block.<\/figcaption><\/figure>\n<p>In November 2024, JPMorgan analysts <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-affirms-bitcoins-growth-forecast-amid-trump-and-microstrategy-influence\">expressed confidence<\/a> \u201cin good performance\u201d of the first cryptocurrency and gold during Donald Trump\u2019s presidency in the US.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The \u201cdebasement trade\u201d trend will persist over the long term as allocations to gold and bitcoin in investor portfolios expand, JPMorgan analysts said, according to The Block.\u00a0 \u201cThe rise in gold prices over the past year has gone well beyond the moves implied by changes in the US dollar and bond yields. This likely reflects [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,536,229],"class_list":["post-20111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-gold","tag-jpmorgan"],"aioseo_notices":[],"amp_enabled":true,"views":"46","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20111"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20110"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}