United States, Nov. 16, 2020 /AlexaBlockchain/ – JPMorgan’s Global Markets Strategy team released a report covering Bitcoin which shows that institutional investors are moving from Gold ETFs to Bitcoin.
JPMorgan has highlighted evidence of institutional demand for bitcoin and investors moving from gold exchange-traded funds (ETFs) to the cryptocurrency. The firm points out that bitcoin demand is driven not only by younger retail investors but also by institutional investors, such as family offices and asset managers.
JPMorgan found in the report, “Corporate endorsements of bitcoin and in particular the endorsement by Paypal a couple of weeks ago appear to have propagated further demand for bitcoin.“
