Bitcoin overtakes gold in investor portfolio allocation: JPMorgan

Bitcoin (BTC) has now overtaken gold in investor portfolio allocation when adjusted for volatility, according to a JP Morgan analyst 

JPMorgan managing director Nikolaos Panigirtzoglou reportedly said that, when adjusting for volatility, Bitcoin’s allocation in investor portfolios is 3.7 times greater than the bullion.

The analyst highlighted the significant inflow of over $10 billion into Bitcoin exchange-traded funds (ETFs) since its inception in January earlier this year and claimed the potential Bitcoin ETF market size could reach $62 billion using gold as a benchmark.

Bitcoin ETFs have proven to be a net positive for the crypto market, and the world’s largest cryptocurrency has gained over 45% in market cap in February. Net sales for spot Bitcoin ETFs climbed to $6.1 billion in February, compared to $1.5 billion in January.

This is a developing story, and further information will be added as it becomes available.

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