Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan

(BTC) has led a 35% rally this week by soaring far above the $50,000 resistance level and restoring a $1-trillion market capitalization to the asset.

According to a note shared by JPMorgan (NYSE:JPM) with clients on Thursday, the recent increase in price for BTC was predominantly attributed to institutional investors looking for a hedge to inflation.

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