• bitcoin trillion JPMorgan economic sideshow
    Bitcoin

    As Bitcoin breaks into trillion-dollar club, JPMorgan calls it an ‘economic sideshow’

    The bank’s analysts believe that Bitcoin is becoming a more cyclical asset, turning the cryptocurrency into the ‘poorest hedge’ against a stock market downturn

    Despite that, JPMorgan’s “Digital transformation and the rise of fintech: Blockchain, Bitcoin and digital finance 2021” concluded that “Bitcoin is here to stay as an 'alternative' currency.” According to the Feb. 18 report, current Bitcoin prices greatly exceed JPMorgan’s estimates of its fair value, based on mining costs and its risks compared with gold.