Bitcoin, Gold Are The ‘Debasement Trade’ In Uncertain Times: JPMorgan
JPMorgan Chase and Co (NYSE:JPM) analysts are observing a trend where investors are increasingly turning to gold and Bitcoin as “safe-haven” assets amid rising geopolitical tensions and the upcoming U.S. presidential election.
What Happened: This shift, referred to as the “debasement trade,” is driven by concerns over economic instability and currency devaluation, The Block reported.
“Rising geopolitical tensions and the coming U.S. election are likely to reinforce what some investors call the ‘debasement trade’ thus favoring both gold and Bitcoin (CRYPTO: BTC),” J.P. Morgan’s team, including analysts Nikolaos Panigirtzoglou, Mika Inkinen, Mayur Yeole and Krutik P Mehta, noted in their recent report.
Gold’s price initially showed a muted response to recent geopolitical events but surged to almost …
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