JPMorgan Says Bitcoin’s Record Run Is Being Driven by Inflation
By Vildana Hajric Inflation concerns rather than exuberance about the first U.S. Bitcoin futures ETF is driving the digital currency to record highs, according to JPMorgan Chase & Co. strategists. “By itself, the launch of BITO is unlikely to trigger a new phase of significantly more fresh capital entering Bitcoin,” wrote strategists including Nikolaos Panigirtzoglou, referring to the ProShares Bitcoin Strategy ETF. “Instead, we believe the perception of Bitcoin as a better i