Bitcoin could reach $170,000 if it trades like gold, says JPMorgan strategist
From morningstar.com
The comparison, put forward by global market strategist, Nikolaos Panigirtzoglou, was made after adjusting for bitcoin's more volatile nature and was just a "theoretical" comparison intended to demonstrate the upside the cryptocurrency has. After a 12% rebound from its November lows, bitcoin (BTCUSD) edged into positive territory for the year at $93,500 in early trading Thursday. One of the main talking points around the whole investment case for bitcoin recently has been the impact of its price fall on Michael Saylor's bitcoin treasury company, Strategy (MSTR). As its market net asset value (the combined market ...
(full story)