JPMorgan Bets Big on $BTC Bitcoin’s Edge Over Gold in 2025

Bitcoin’s stealing the spotlight from gold, and JPMorgan’s all in. In a May 18, 2025, note, the bank’s analysts predicted Bitcoin will outshine gold through year-end, fueled by corporate investments, state crypto laws, and a booming derivatives market. With Bitcoin hitting $104,500—near its January peak—it’s acting more like a high-flying stock than a safe-haven, unlike gold, which is slipping despite tariff jitters.

Why the shift? Companies like Strategy Inc., eyeing $84 billion in Bitcoin buys by 2027, and states like New Hampshire, allowing 5% of assets in crypto, are driving demand. Meanwhile, gold’s ETF inflows are slowing as Bitcoin’s soar, with an 18% price jump since April 22 versus gold’s 8% drop. JPMorgan sees this “zero-sum game” favoring Bitcoin, especially with deals like Coinbase’s $2.9 billion Deribit buy signaling a maturing crypto market.

But it’s not all rosy. Bitcoin’s volatility—tied to equities—makes it riskier than gold, and JPMorgan’s Jamie Dimon remains a skeptic, even as his bank greenlights client Bitcoin buys. Still, the bank’s analysts, led by Nikolaos Panigirtzoglou, argue crypto’s momentum is unstoppable. Investors are listening, swapping gold’s steady shine for Bitcoin’s wild ride. Will it pay off? Check jpmorgan.com for updates—this crypto bet’s just heating up.