JPMorgan: Big Institutional Investors Dumping Bitcoin, Going Back Into Gold
Based on open interest in CME Bitcoin futures contracts, the firm said large investors are shifting away from Bitcoin after favoring the digital currency over gold beginning last fall.
The Bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors,
JPMorgan wrote in a note to clients.
Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.