Summary
JPMorgan predicts that if bitcoin were to match gold’s allocation in investor portfolios, its market cap should rise to $3.3 trillion, leading to a doubling of its price. However, this is unlikely due to the risk and volatility associated with cryptocurrency.
Key Points
1. Bitcoin’s market cap could rise to $3.3 trillion if it were to match gold’s allocation in investor portfolios.
2. JPMorgan believes that this scenario is unlikely due to the risks and heightened volatility associated with cryptocurrency.
3. If bitcoin were to reach a market cap of $3.3 trillion, its price would more than double.