JPMorgan: Gold remains the preferred safe-haven asset, Bitcoin has failed to replace it
ChainCatcher news, according to Decrypt, JPMorgan's latest report indicates that the safe-haven narrative of Bitcoin has not reached its mythical status. Amid recent market fluctuations caused by President Trump's global trade war, investors are more inclined to put their funds into gold. Analysts at the investment bank stated in a report on Thursday that as speculators seek safer investments, gold ETFs and futures are attracting most of the investment. This week, gold prices even hit a historic high of $3,660 per ounce. In contrast, Bitcoin has fallen over 20% since reaching a record of $109,000 on January 20, the day of Trump's inauguration, and is currently hovering around $85,000.The report released on Thursday noted: "Bitcoin has failed to benefit from the influx of safe-haven funds in recent months like gold has. While investors are pouring into gold ETFs, speculators are cashing out from new U.S. cryptocurrency ETFs." However, geopolitical uncertainty, President Trump's aggressive tariff policies, and concerns about an economic recession are prompting investors to turn to the ultimate safe-haven asset: gold.