JPMorgan Institutional Investors Replacing Gold With Bitcoin

 

The shift into bitcoin that drove late-2020 all-time highs “has started reemerging in recent weeks,” wrote analyst Nikolaos Panigirtzoglou.

“Bitcoin’s allure as an inflation hedge” is drawing institutional investors back to the crypto market, JPMorgan’s Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients.

“There are tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started reemerging in recent weeks,” he said.

Bitcoin prices have surged above $50,000 recently, climbing 85% this year. The price of ether, the native currency of the Ethereum blockchain, has rose 393% year to date.

Meanwhile, gold prices are hovering below $1,800 per ounce, falling 6.5% in 2021.

Panigirtzoglou pointed to “the failure of gold to respond in recent weeks to heightened concerns over inflation” as a possible driver of the return to bitcoin.

Gold is often seen by investors as a hedge against inflation due to the perception it protects purchasing power and the ability to provide defense during market turmoils.

Sources: https://www.coindesk.com/business/2021/10/08/jpmorgan-says-institutional-investors-are-replacing-gold-with-bitcoin/

Airdrop to New coin balances and get CET Token

CoinEx has opened trading, deposit and withdrawal of Hshare (HSR) and launched HSR/BCH & HSR/BTC trading pairs on June 1st, 2018 (UTC).

Introduction of Hshare

Official website: https://h.cash
Market Cap: https://coinmarketcap.com/currencies/hshare/

HSR Airdrop to CET balance

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AlphaBay; Oasis Begin Accepting Monero on September 1st 2016

The value of Monero (XMR) has more than tripled in the last ten days moving from around $2.47 to $8.10 as at the time of this publication.

Described as the new digital currency that online drug-dealers have started to adopt because it enables them to conduct business with more anonymity, the price of two-year-old Monero skyrocketed lately, driven by the announcement of several darknet markets to accept Monero as payment.

AlphaBay, one of the most popular sites for buying drugs like liquid LSD and hybrid cannabis, said last week it has partnered Oasis to begin accepting Monero on 1st September 2016. This led to increased media coverage, attracting more speculators towards the currency.

Full story: https://www.cryptocoinsnews.com/untraceable-cryptocurrency-monero-is-booming/