JPMorgan Analyst Predicts a “Baton Exchange” From Gold to Bitcoin
Main Idea
JPMorgan analyst predicts a shift in investor preference from gold to Bitcoin in H2 2025, driven by Bitcoin ETFs and increasing government adoption of Bitcoin in reserves.
Key Points
1. The US Dollar Index declined 8% in H1 2025, making Bitcoin and gold attractive safe-haven assets.
2. JPMorgan analyst Nikolaos Panigirtzoglou foresees a 'baton exchange' from gold to Bitcoin due to emerging Bitcoin-specific factors.
3. Bitcoin ETFs are seen as an ideal alternative for investors losing appetite for U.S. stocks, providing direct exposure without complexity.
4. Increasing government adoption of Bitcoin, including the Trump administration's plan to store Bitcoin in strategic reserves, is boosting demand.
5. Bitcoin's price was $118,625 at the time of writing, with analysts expecting further growth.
Description
The US Dollar Index declined 8% in H1 2025. Bitcoin and Gold are safe-haven assets for investors. ETFs and strategic reserves to boost Bitcoin’s demand in H2 2025. Both Bitcoin and Gold have been seen by investors as key safe-haven assets this year, especially after an 8% decline in the U.S. Dollar Index during the first half of 2025. While Gold dominated that period, outperforming Bitcoin, analysts are now predicting a major reversal for the second half of the year. JPMorgan analyst predicts Bi...
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