JPMorgan: Bitcoin's Upside Potential in the Second Half May Surpass Gold

According to TheBlock, JPMorgan analysts stated that the rise in gold from mid-February to mid-April suppressed Bitcoin's performance. However, in the past three weeks, Bitcoin has rebounded by 18%, while gold has fallen by 8%, with funds shifting from gold ETFs to crypto funds. A series of catalysts include:

Corporate Accumulation: Strategy (formerly MicroStrategy) plans to raise another $42 billion to buy Bitcoin by 2027, and Bitcoin strategy companies like Metaplanet continue to purchase;

Government Reserves: New Hampshire allows 5% of state assets to be allocated to Bitcoin, and Arizona is establishing a digital asset reserve;

The derivatives market is gradually maturing.

Nikolaos Panigirtzoglou, Managing Director at JPMorgan, pointed out: As more U.S. state governments consider including Bitcoin in their reserves, this could become a continuous positive factor.