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Investment bank JP Morgan, the world's largest bank, describes Bitcoin as digital gold

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.

Investment bank JP Morgan, the world's largest bank, describes Bitcoin as digital gold


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. ”

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