CoinDesk Podcast Network
COINDESK DAILY: Can Bitcoin Match Gold’s Position in Investors’ Portfolios? US To Appeal Do Kwon's Extradition
Mar 8, 2024
Host Jennifer Sanasie discusses JP Morgan's report comparing Bitcoin and gold's allocation in investor portfolios, highlighting Bitcoin's volatility. Also, updates on Optimism Foundation's token sale and Terraform Labs co-founder Do Kwon's extradition appeal.
02:06
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Quick takeaways
- Bitcoin is unlikely to match gold allocation in investor portfolios due to volatility.
- Optimism Foundation sold 19.5 million OP tokens to an undisclosed buyer for $89 million.
Deep dives
JP Morgan Analysis on Bitcoin vs. Gold Allocation
JP Morgan's research report indicates that Bitcoin is unlikely to match gold allocation in investors' portfolios. The report highlights Bitcoin's volatility, which is nearly four times higher than gold, making it unrealistic for Bitcoin to reach gold's level of investment. If Bitcoin were to align with gold in risk capital terms, the implied allocation would drop significantly, far below its current value. The report suggests an implied price of $45,000 for Bitcoin to match gold, contrasting with Bitcoin's current value of around $68,500.
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