Bitcoin as an investment is solidly competing with gold—thanks to millennials,

[Mordan]

https://decrypt.co/46201/jpmorgan-te...ecade-too-late

Bitcoin as an investment is solidly competing with gold—thanks to millennials, JPMorgan reportedly said yesterday in a note to investors.

The investment bank said Friday that "the potential long-term upside for Bitcoin is considerable” as millennials “would become over time a more important component of investors’ universe,” according to a report by Business Insider.

The US’s biggest bank by total assets added that "even a modest crowding out of gold as an 'alternative' currency over the longer term would imply doubling or tripling of the Bitcoin price.”

And despite Bitcoin typically labeled as a store of value, JPMorgan added that the biggest cryptocurrency by market cap could be used for what it was originally intended to do—buy things.

“Cryptocurrencies derive value not only because they serve as stores of wealth but also due to their utility as means of payment,” the bank reportedly said. “The more economic agents accept cryptocurrencies as a means of payment in the future, the higher their utility and value.”

[devil21]

I'm sure JPM is giddy, as the dumb slaves clamor to accept literally *nothing* in exchange for their labor, while JPM builds the largest physical metals stash in world history.

"Gold is money, all else is credit." - JP Morgan

[Mordan]

"Gold is money, all else is credit." - JP Morgan

That's so 2000s.

Bitcoin is deemed better money to MicroStrategy with its 100 years BITCOIN HODL strategy.

many institutions will FOMO.

its a given. Buy 1 BTC before ATH please for god's sake.

[devil21]

That's so 2000s.

Um, what about JPM actually amassing a giant physical stash of precious metals RIGHT NOW? That's not so 2000s. I'm going to bet it's because the FedCoin will be metals backed in some form, in order to "re-establish confidence" after the unbacked FRN petrodollar system has fully collapsed.

Bitcoin is deemed better money to MicroStrategy with its 100 years BITCOIN HODL strategy.

many institutions will FOMO.

its a given. Buy 1 BTC before ATH please for god's sake.

Naaa I'm good, thanks. I tend to believe JP Morgan's assessment over yours.