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JPMorgan says inflation concerns, not ETFs, driving Bitcoin price jump

Published 10/21/2021, 05:45 AM
Updated 10/21/2021, 07:20 AM
© Ink Drop

© Ink Drop

Bitcoin (BTC) broke its all-time high price level following the launch of ProShares’ Bitcoin Strategy exchange-traded fund (ETF), BITO, on Tuesday, but JPMorgan Chase (NYSE:JPM) strategists believe the key driver behind the price jump is investor concern over inflation.

The BITO launch, which saw the highest-ever first-day natural volume for an ETF, is “unlikely to trigger a new phase of significantly more fresh capital entering Bitcoin,” JPMorgan strategists said in a note.

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Latest comments

following his dumb leader's comments.not doing business with JP Morgan anymore.
so in other words, this is Carl Icahn (or Peter Thiel) buying ATH and then like Masa Son would sell low? buy high sell low, get rekt. sometimes i wonder if this is r/WSB or 4chan :)
ok
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