New Whitepaper from J.P. Morgan Says Bitcoin Will Grow 10x Thanks to Institutional Investment

Institutional investors are now deciding to choose Bitcoin over gold, according to a new whitepaper published by J.P. Morgan. The report suggests that Bitcoin’s price could rise tenfold given the amount of capital that is sitting on the sidelines waiting to enter the market.

Why the Fundamental Value of Bitcoin Is Rising

Multiple factors are leading to a rising Bitcoin price that may not only lead to a big bullish move to end the 2020 calendar year. It may also catapult digital gold to new heights in 2021 and beyond.

Just in the last couple of months, a number of big news events have catapulted the world’s most valuable cryptocurrency. One significant tidbit to consider is the fact that Grayscale Investments, a publicly traded Bitcoin fund, is seeing large influxes of institutional capital flooding in. As a result of that, the company has reported the two best fiscal quarters in its young history have occurred back to back.

The organization is benefiting from a growing trend it believes will continue. That trend is that a younger group of millennial retail investors will choose digital gold over physical gold and that institutional investors are already doing the same.

A Presidential Reason for a Rising Price

Joe Biden is switching his job title from former Vice President to President-elect. That’s thanks to the fact that Democratic voters officially took the lead in the state of Pennsylvania over the weekend. While current President Donald Trump is planning to continue fighting the results of the election in court, lawsuits in Georgia, Michigan and Nevada have already been thrown out due to a lack of evidence.

While popular opinion before the election was that the re-election of Trump would be better for financial markets, it’s clear that what investors are really hungry for is clarity. As the days go by, the increasing likelihood of Biden officially moving into the White House in January is causing all financial markets to increase, including cryptocurrency.

When the Next Bullish Move Is Likely Coming

Short-term investors are likely waiting for January for another bullish move up for Bitcoin. The reality is no matter who is in office, another stimulus package is coming. It’s clear that voters like Biden’s approach to the coronavirus, which means being a little bit more aggressive in shutting down businesses in order to stop the spread. If other stimulus packages offer any indication, many investors will take their stimulus money and put it into the crypto markets as a way to hedge against the devaluation of the American dollar.

The same thing is likely to happen here in Canada. That’s why you should hedge against your traditional financial portfolio now by investing in cryptocurrency with Netcoins. It’s free to sign up for an account and you can get started in minutes. If you don’t take action now, it’s looking like you’ll do it later anyway but at a higher price. Buying bitcoin is easy with Netcoins. Head to the trade page to buy or sell bitcoin. Netcoins is a fully regulated, publicly owned crypto trading platform.

Thanks for reading. For more blogs on all things in Bitcoin, you can read more here.