Investment bank JP Morgan, the world's largest bank, describes Bitcoin as digital gold
Investment bank JP Morgan noted that the digital currency Bitcoin has emerged as a competitor to gold. It may trade at levels of up to $ 146,000 if established as a safe investment asset.
Interest in the world's largest cryptocurrency has increased in the new year as investors look to Bitcoin. As a hedge against inflation and an alternative to the depreciation of the dollar.
The popularity of the digital currency has led to a rise in its prices, more than three-fold in the past six months. To a record high of $ 34,800 on the second of January.
Economists at JPMorgan said, "We are starting to take into account Bitcoin's competition for gold."
This could herald a new dawn for the volatile digital currency, after its circulation for years was restricted to speculators and retail investors.
The bank said: “We note the stunning rise of Bitcoin in the past few weeks. He pushed it to a region that has more challenges, not only in terms of its status but also in terms of its value. ”
