Bitcoin surge escalates as market ‘recognises it’s superior to gold as a store of value’

Bitcoin surge escalates as market ‘recognises it’s superior to gold as a store of value’

On Friday JP Morgan stated: “Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the Bitcoin price”. The investment bank and financial services company added: “The potential long-term upside for Bitcoin is considerable as it competes more intensely with gold as an ‘alternative’ currency we believe, given that Millenials would become over time a more important component of investors’ universe.” Speaking to  Bitcoin pioneer Max Kesier claimed: “Money is flowing out of gold and into Bitcoin by institutions.”