With both of the assets coming to the forefront in the first few months of the year, JPMorgan analysts have projected that Bitcoin is likely to have more upside than gold in the second half of 2025. Indeed, the bank’s analysts note that $BTC may, in fact, keep rising at the expense of the yellow metal.
The two investment assets became the center of attention amid an increasingly uncertain macroeconomic forecast. As geopolitical tension rose, so too did the debasement trade, where investors opted for both as a hedge against weakening fiat currencies. Although that has stalled thus far in 2025, JPMorgan is expecting one of those assets to come out ahead in the second half of the year.