JPMorgan analysts predict that Bitcoin will increasingly overshadow gold in the latter half of the year due to rising corporate interest and backing from U.S. states. They characterize the current market as a zero-sum game, where Bitcoin is taking prominence over gold, evidenced by recent trading patterns and significant investment shifts towards Bitcoin. Companies like Strategy and Metaplanet are ramping up their Bitcoin investments with notable valuation jumps. The analysts also believe that specific crypto-related catalysts will contribute further to Bitcoin's upward trajectory, while gold experiences declines.
Between mid-February and mid-April, gold was rising at the expense of bitcoin, while of the past three weeks we have been observing the opposite.
The 'debasement trade' has turned into a zero-sum contest, where bitcoin is gaining the upper hand over gold.
Companies like Strategy and Metaplanet are increasing their bitcoin holdings, with Strategy planning to raise $84 billion for bitcoin purchases by 2027.
Since adopting the Bitcoin Treasury Standard, Metaplanet's BTC net asset value has surged 103.1x, and its market cap has grown 138.1x.
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