{"id":132859,"date":"2026-02-05T19:23:16","date_gmt":"2026-02-05T19:23:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=132859"},"modified":"2026-02-05T19:23:16","modified_gmt":"2026-02-05T19:23:16","slug":"jpmorgan-bitcoin-is-now-a-more-attractive-investment-than-gold-long-term","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=132859","title":{"rendered":"JPMorgan: Bitcoin is Now a More Attractive Investment Than Gold Long Term"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

JPMorgan: Bitcoin is Now a More Attractive Investment Than Gold Long Term<\/a><\/p>\n

<\/div>\n

Bitcoin\u2019s long-term investment case relative to gold has strengthened, according to JPMorgan, even as the cryptocurrency suffers one of the sharpest market pullbacks in its history.<\/p>\n

In a new note, JPMorgan analysts reportedly said<\/a> Bitcoin\u2019s risk-adjusted profile versus gold has improved after gold\u2019s strong outperformance over the past year and a notable rise in volatility for the traditional safe-haven asset.<\/p>\n

The divergence between the two assets has been stark. Since October 2025, gold<\/a> has climbed roughly a third, while BTC has fallen<\/a> nearly 50% from its peak above $126,000.\u00a0<\/p>\n

The downturn marks four consecutive months of declines \u2014 a stretch not seen since before the pandemic. Gold rose more than 60% in 2025, driven by central bank buying and renewed safe-haven demand, while BTC struggled to maintain momentum and underperformed many risk assets.<\/p>\n

Still, JPMorgan global markets strategist Nikolaos Panigirtzoglou argued that gold\u2019s rally has come with a key shift: rising volatility.\u00a0<\/p>\n

That has narrowed the perceived risk gap between the metal and BTC.<\/p>\n

The bank highlighted that Bitcoin\u2019s volatility relative to gold has fallen to a record low, with the bitcoin-to-gold volatility ratio drifting toward 1.5.\u00a0<\/p>\n

Panigirtzoglou suggested that, on a volatility-adjusted basis, Bitcoin\u2019s market capitalization would need to rise dramatically \u2014 theoretically implying a price near $266,000 \u2014 to match private sector investment levels in gold.<\/p>\n

While he acknowledged such targets are unrealistic in the near term, the comparison underscores what JPMorgan views as significant upside potential over the long run once negative sentiment fades.<\/p>\n

Bitcoin is currently crashing<\/h2>\n

The note comes as Bitcoin\u2019s price crashed<\/a> sharply Thursday, dipping to $65,000 in volatile trading \u2014 marking what appears to be the largest absolute dollar drawdown on record.\u00a0<\/p>\n

From its October highs, BTC has retraced roughly $62,000, eclipsing prior nominal declines seen in 2018 and 2022, according to Bitcoin Magazine Pro data. <\/p>\n

JPMorgan also pointed out that BTC is now trading well below its estimated production cost of $87,000 \u2014 historically seen as a soft floor.<\/p>\n

Analysts noted that sustained prices under production cost could force<\/a> inefficient miners out, eventually lowering the network\u2019s marginal cost base.<\/p>\n

Despite the downturn, JPMorgan said liquidation activity has remained modest compared with past crashes, though U.S.-listed spot Bitcoin ETFs continue to see persistent outflows.<\/p>\n

U.S. spot BTC ETFs saw more than $3 billion exit last month, following around $2 billion in December and $7 billion in November, the report added.<\/p>\n

At the time of writing, BTC is trading near $66,000. <\/p>\n

This post JPMorgan: Bitcoin is Now a More Attractive Investment Than Gold Long Term<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine JPMorgan: Bitcoin is Now a More Attractive Investment Than Gold Long Term Bitcoin\u2019s long-term investment case relative to gold has strengthened, according to JPMorgan, even as the cryptocurrency suffers one of the sharpest market pullbacks in its history. In a new note, JPMorgan analysts reportedly said Bitcoin\u2019s risk-adjusted profile versus gold has improved […]<\/p>\n","protected":false},"author":0,"featured_media":132860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-132859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/132859"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=132859"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/132859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/132860"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}