Bitcoin is 'economic side show' and poor hedge against stocks: JP Morgan

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

TOKYO: Bitcoin is an 'economic side show' and a poor hedge against a decline in equity prices, analysts at JP Morgan said in a sobering ...

TOKYO: Bitcoin is an"economic side show" and a poor hedge against a decline in equity prices, analysts at JP Morgan said in a sobering assessment that could undercut the cryptocurrency's rise to record highs.

Bitcoin has surged by 45per cent so far this month, fuelled by signs it is winning acceptance among mainstream investors and companies, such as Tesla, Mastercard and BNY Mellon, but many observers remain sceptical of the unregulated and highly volatile digital asset.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines