2026-02-13 03:38:41

JPMorgan: Bitcoin More Attractive Than Gold in the Long Term

In a recent report, JPMorgan noted that gold has outperformed Bitcoin since October, with gold also experiencing greater price volatility. As negative sentiment shifts, JPMorgan believes Bitcoin has the potential to be reevaluated as a hedge comparable to gold in risk scenarios.

Two reasons JPMorgan remains bullish amid a declining market:

1. Bitcoin has fallen below the breakeven point for miners, with the estimated cost to mine one BTC around $77,000. Many weaker miners are forced to shut down, but this is seen as a natural cleansing process rather than a signal of collapse.

2. Legal progress in the U.S. with the CLARITY Act will create a clear legal framework, encouraging institutional investment.

Head of Analysis Nikolaos Panigirtzoglou concluded, "We expect crypto inflows to continue increasing in 2026, this time led by institutional investors rather than retail."

BTC4,53%

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