Fresh of its report that Bitcoin will continue to chip away at gold's market share, the investment bank is now predicting that Mass Mutual recent $100m Bitcoin purchase (facilitated by FinTech Collective portfolio company NYDIG) is a precursor to $600b more of value to flow into the digital asset as pension funds and insurance companies continue to allocate.
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How $600 billion could move Into Bitcoin: JP Morgan strategist
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“Institutional investors have realized that Bitcoin has similar properties to gold, such as a limited supply,” Lucas Huang, head of growth at decentralized exchange Tokenlon, previously told Decrypt. “The more 'traditional' investors buy, the more established Bitcoin gets, and that's what we are seeing right now.”
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