Bitcoin It is operating too cheap in relation to gold, since its volatility falls to historical minimums, Wall Street Bank JPMorgan (JPM) He said in a research report on Thursday.
The bank stressed that the six -month rolling volatility of Bitcoin has decreased from 60% at the beginning of the year to approximately 30% today, the lowest recorded.
With the convergent volatility towards gold, the largest cryptocurrency in the world is now only the double volatile, the lowest registered relationship, the report said.
JPMorgan argued that digital asset is increasingly attractive to institutional portfolios.
On a basis adjusted by volatility, Bitcoin market capitalization would need to increase 13%, which implies a price of approximately $ 126,000, to match the $ 5 billion Gold in private investment. According to bank models, Bitcoin is currently undervalued for around $ 16,000 versus gold, suggesting space for the rise.
Analysts led by Nikolaos Panigirtzoglou linked the movement to accelerate purchases by corporate treasure bonds, which now have more than 6% of the total supply, echoing the quantitative form of the volatility of the quantitative bonds of the Central Bank.
Corporate adoption is gaining impulse through the inclusion of the capital index, attracting passive capital tickets, analysts said.
Metaplenet (3350)For example, FTSE Russell was updated to the medium capitalization category and added to the global reference points, while Nasdaq kindly list (Naka) It is raising up to $ 5 billion after a purchase of Bitcoin of $ 679 million.
New participants such as Adam Back’s firm also aim to rival Mara Holdings’ (Mara) Treasury position behind Michael Saylor’s strategy (Mstr)The aggregate report.
Read more: Bitcoin Price to reach $ 1.3 million by 2035, says Crypto Bitwise assets manager
