JPMorgan Chase Analysts Say That Institutional Funding Has Been Rising in Q4

JPMorgan Chase Analysts Say That Institutional Funding Has Been Rising in Q4

By Abhimanyu Krishnan | News | 24 Nov 2020


Analysts from multinational investment bank JPMorgan Chase, in a report published in early Nov. 2020, have said that institutional players are investing heavily into Bitcoin in Q4 2020 than they were in Q3 2020.

  • Analysts Nikolaos Panigirtzoglou, Mika Inkenen, and Ekansh Agarwal state that institutional investors view Bitcoin as a long-term investment
  • The report refers to Grayscale Investments Bitcoin Fund, the flow to which it stated has “steepened in recent weeks”
  • Several large companies have been investing their assets into Bitcoin, most notably Microstrategy, which converted $426 million in cash to Bitcoin
  • Bitcoin has also become Square’s predominant revenue stream in 2020
  • As for Bitcoin’s price, the report indicates that it might currently be overbought and could trigger profit-taking in the coming weeks
  • However, it also notes that Bitcoin’s lack of reversion to its mean price could indicate a greater influence of institutions as opposed to momentum traders
  • JPMorgan Chase has recently flipped its view on Bitcoin, stating in Oct. 2020 that Bitcoin could “easily double or triple its value”

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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