JPMorgan: Bitcoin has more potential than gold in the second half of 2025

By Hannah Pérez

He bank of investment esteem that Bitcoin could get over to the metal Precious this 2025 as institutional adoption grows and that states recognize cryptocurrency as a reserve asset.

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• JPMorgan suggests that he price of Bitcoin could grow further that he of the gold this year.
• He capital institutional and the flows of the ETF to the Cash They are factors clue for this vision.
• Although both assets are considered shelters, BTC sample elderly YoMpulso technical.
• Gold has increased 20% so far this year, compared to the 11% rise in Bitcoin.

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This year, Bitcoin And gold are playing hot potatoes, with both of them, but never at the same time.

JPMorgan Chase, one of the Banks of investment further influential of the world, consider that Bitcoin It could have a higher than gold yield and continue gaining ground at the expense of metal in the second half of 2025, driven by the growing corporate demand and the hug of jurisdictions in the United States that adopt it as a reserve for their state treasury.

In a analysis shared with customers and aforementioned by The Block Thursdayexpressed an optimistic vision about Bitcoin (BTC) taking into account he around macroeconomic and the entrance of capital institutional, both playing to favor of the major asset digital.

Bitcoin vs. Gold: Assets rise at the expense of the other

Historically, he gold ha been he shelter favorite of the Investors during periods of uncertainty economic. Without embargo, JPMorgan suggests that Bitcoin this winning land as a alternative viable.

The analysis by Nikolaos Panigirtzoglou notes that degradation trade – in which investors buy gold and Bitcoin to protect against the weakening of fiduciary currencies – he raised both assets at the end of last year. But now, that dynamic has begun to change, with each asset uploading at the expense of the other.

“Between mid -February and mid -April, gold was going up at Bitcoin’s expense, while in the last three weeks we have been observing otherwisethat is, Bitcoin uploading at the expense of gold”, Wrote the bank analyst.

Gold broke a historical maximum over USD $ 3,400 in April as investors resorted to metal amid geopolitical tensions, Trump tariffs and renewed fears of inflation. BitcoinOn the other hand, more than 10% below its maximum of January was negotiated over USD $ 109,000, according to data from Coinmarketcap.

But now, gold is almost 8% below its April peak, while Bitcoin It has risen 18% during the same period to place themselves above the 5 100,000 USD key brand.

Factors that drive Bitcoin

This change has been reflected in the funds quoted in the stock market (ETF), analysts noticed, with the ETFs in cash Bitcoin In the US, registering tickets while the Golden ETFs come out. The ETF Bitcoin dominant of BlackrockIbit, has even managed to overcome the world’s largest ETF in the world in entries count in the year.

The futures market shows a similar dynamic, according to the report, with the gold positions decreasing while the futures contracts of Bitcoin increase. Earlier this year, this pattern was invested.

JPMorgan attributes the impulse of Bitcoin Not only to the weakening of gold but also to specific cryptocurrency catalysts. In its analysis, the team of specialists appointed factors such as the aggressive corporate accumulation of companies such as Strategy and Metaplenetas well as the legislative efforts of states such as Arizona and New Hampshire to create state reserves of Bitcoin.

Strategywith 568,840 BTC, has drawn a plan to raise USD $ 84 billion for purchases of Bitcoin Until 2027, while Metaplenet contemplate raising your holdings at 10,000 BTC in 2025 –And it has already reached more than 50% of that goal.

Some United States states are also beginning to adopt Bitcoin as reserve assets, and “As the list grows, with other states […] Considering potentially add bitcoin to your strategic reserves, this could result in Be a more sustained positive catalyst for Bitcoin“The analysts wrote.

Bitcoin gains ground against precious metal

The bank giant also noticed the growing tendency of mergers and acquisitions in the cryptocurrency industry, which added to a favorable regulatory environment in the United States, could lead to greater institutional participation in space.

Coinbase An acquisition record agreement announced a few days ago with Delibit For USD $ 2.9 billion, and its CEO Brian Armstrong has advanced that the company plans more purchases in the future. Robinhood This week revealed an investment in the Canadian platform Wonderfiwhich joined other similar agreements of Ripple, Krakenamong others.

“In total, we hope that the zero sum game [en el año] Between Gold and Bitcoin extends to the rest of the yearbut they are biased towards specific cryptocurrency catalysts that create more advantages for Bitcoin over gold in the second half of the year“, Said the analysts of JPMorganaccording to coverage.

In summary, the projection of JPMorgan reflects a growing acceptance institutional toward Bitcoin and a possible transformation in his status, passing of be considered a asset speculative to consolidate as a tool of worth to long term.

BTC is negotiated around USD $ 103,800, an increase of 11% so far from 2025 compared to 20% of gold in the period. The precious metal price is at USD $ 3,223 at the time of edition on Thursday.

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Hannah Estefanía Pérez / Diariobitcoin

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