- JPMorgan analysts, led by Nikolaos Panigirtzoglou, say Bitcoin could outperform Gold if ETF hedging eases.
- Bloomberg ETF analyst Eric Balchunas predicts BTC ETFs will triple gold ETFs in assets under management.
- Gold’s current market cap of $30 trillion divided by Bitcoin’s supply of 20 million yields a $1.5 million per BTC price.
- Bitcoin recently climbed to $81,000 before correcting to $75,000 amid Senate rejection of the CLARITY Act and a Federal Reserve rate hike.
Financial institution JPMorgan recently said that Bitcoin could outperform gold if ETF hedging pressures ease. Analysts led by Nikolaos Panigirtzoglou argue that the digital asset may surpass the yellow metal as institutional flows accelerate.
Bloomberg ETF analyst Eric Balchunas has predicted that Bitcoin ETFs will triple gold ETFs in asset size. Meanwhile, gold commands a market cap of roughly $30 trillion, while Bitcoin’s circulating supply stands at about 20 million. If Bitcoin’s market cap equals gold’s, each BTC would trade at $1.5 million—a nearly 1900% rally from current levels.
Industry veterans including Binance founder Changpeng Zhao, Strategy founder Michael Saylor, and Ark Invest CEO Cathie Wood have long forecast Bitcoin reaching between $1 million and $1.5 million within the next decade. Despite such bullish long-term bets, near-term headwinds persist.
Bitcoin climbed to $81,000 in late August and early September before correcting sharply. The asset fell to $75,000 after the U.S. Senate voted against the highly anticipated CLARITY Act. Furthermore, the Federal Reserve raised interest rates by 25 basis points, pushing investors away from high-risk assets like cryptocurrencies.
Nevertheless, some analysts remain optimistic. Bernstein analysts predict that Bitcoin will reclaim the $100,000 price level by the end of 2026, which could ignite another bull run across the broader crypto market.
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