JPMorgan says bitcoin is gaining over gold as debasement trade after Iran conflict
The Block
JPMorgan analysts report that investors are favoring bitcoin over gold as a hedge against currency debasement following the Iran conflict.Summary
JPMorgan analysts, led by Nikolaos Panigirtzoglou, report a shift in investor sentiment where bitcoin is increasingly preferred over gold as a “debasement trade” following the Iran conflict. While gold ETFs struggle with outflows, bitcoin ETFs have seen consistent inflows, indicating retail interest. Furthermore, institutional activity—evidenced by rising CME bitcoin futures and aggressive accumulation by MicroStrategy—suggests that demand for bitcoin is broad-based, positioning it as a primary hedge against weakening fiat currencies during times of geopolitical instability.
(Source：The Block)