JPMORGAN JUST CALLED BITCOIN THE BEST ASSET OF THE NEXT DECADE
Matt Hougan said it best this morning
First they ignore Bitcoin then they laugh then they fight it then they put it in their flagship assumptions paper and model it beating every other asset for a decade
The paper is real
JPMorgan Asset Management released its 31st annual Long Term Capital Market Assumptions on Oct 19
Bitcoin at 10 percent annual compounding for 10 to 15 years
US large caps at 8 percent
Gold at 6 percent
The bank that fought crypto for a decade now says it beats stocks and gold for a generation
Now the part nobody quotes
JPMorgan stops short of telling anyone to buy and offers no fixed allocation number
The report calls Bitcoin still maturing
Their own June research warned about Bitcoin treasury risks at Strategy and the dividend obligations sitting on its dollar reserves
They will model your revolution on paper and will not risk a dollar of their own on it
The tape disagrees with the headline
BTC trades at 81437 this morning down about 2 percent in 24 hours and still stuck under 82K
Bitcoin ETFs bled 228M last week then pulled 527M on Monday in the biggest inflow day since September led by BlackRock IBIT
The market heard the validation and sold the news anyway
My read
The 10 percent call is genuine validation for the 10 year allocation case and I am not dismissing it
But a paper does not bid
Price this quarter answers to flows and rate fears not to assumptions
A daily close under 80K this week kills the institutional demand story and I will say so right here
BTC to 150K by 2027 or back under 60K first
Models are cheap
Bids are not
$BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #JPMBacksBTC
Matt Hougan said it best this morning
First they ignore Bitcoin then they laugh then they fight it then they put it in their flagship assumptions paper and model it beating every other asset for a decade
The paper is real
JPMorgan Asset Management released its 31st annual Long Term Capital Market Assumptions on Oct 19
Bitcoin at 10 percent annual compounding for 10 to 15 years
US large caps at 8 percent
Gold at 6 percent
The bank that fought crypto for a decade now says it beats stocks and gold for a generation
Now the part nobody quotes
JPMorgan stops short of telling anyone to buy and offers no fixed allocation number
The report calls Bitcoin still maturing
Their own June research warned about Bitcoin treasury risks at Strategy and the dividend obligations sitting on its dollar reserves
They will model your revolution on paper and will not risk a dollar of their own on it
The tape disagrees with the headline
BTC trades at 81437 this morning down about 2 percent in 24 hours and still stuck under 82K
Bitcoin ETFs bled 228M last week then pulled 527M on Monday in the biggest inflow day since September led by BlackRock IBIT
The market heard the validation and sold the news anyway
My read
The 10 percent call is genuine validation for the 10 year allocation case and I am not dismissing it
But a paper does not bid
Price this quarter answers to flows and rate fears not to assumptions
A daily close under 80K this week kills the institutional demand story and I will say so right here
BTC to 150K by 2027 or back under 60K first
Models are cheap
Bids are not
$BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #JPMBacksBTC