Cryptocurrencies 22,378
Market Cap $2.74T
BTC Dominance 60.18 %

Cryptocurrencies : 22,378

Total Market Cap : $2.74T

BTC Dominance : 60.18 %

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Mkt Cap $2.74T BTC Dom 60.18 % BTC BTC $82,245.00 ▲ +0.39% ETH ETH $2,419.19 ▲ +0.30% USDT USDT $0.999391 ▲ +0.04% BNB BNB $725.29 ▲ +0.48% XRP XRP $1.30 ▲ +0.51% USDC USDC $0.999898 ▲ +0.02% SOL SOL $104.67 ▲ +0.91% TRX TRX $0.331221 ▼ -0.57% FIGR_HELOC FIGR_HELOC $1.08 ▲ +0.00% ZEC ZEC $1,140.29 ▲ +1.45% HYPE HYPE $78.96 ▲ +0.31% DOGE DOGE $0.079061 ▼ -0.15% XMR XMR $590.18 ▲ +1.17% USDS USDS $1.00 ▲ +0.05% WBT WBT $80.40 ▲ +0.35% LINK LINK $12.03 ▲ +0.53% LEO LEO $9.04 ▲ +0.04% ADA ADA $0.217892 ▼ -0.79% NEAR NEAR $4.96 ▲ +1.34% RAIN RAIN $0.009147 ▼ -0.43% XLM XLM $0.176033 ▼ -0.77% BCH BCH $276.76 ▲ +1.11% USDE USDE $0.999723 ▲ +0.03% LTC LTC $59.61 ▲ +0.62% UNI UNI $7.34 ▲ +1.52% Mkt Cap $2.74T BTC Dom 60.18 % BTC BTC $82,245.00 ▲ +0.39% ETH ETH $2,419.19 ▲ +0.30% USDT USDT $0.999391 ▲ +0.04% BNB BNB $725.29 ▲ +0.48% XRP XRP $1.30 ▲ +0.51% USDC USDC $0.999898 ▲ +0.02% SOL SOL $104.67 ▲ +0.91% TRX TRX $0.331221 ▼ -0.57% FIGR_HELOC FIGR_HELOC $1.08 ▲ +0.00% ZEC ZEC $1,140.29 ▲ +1.45% HYPE HYPE $78.96 ▲ +0.31% DOGE DOGE $0.079061 ▼ -0.15% XMR XMR $590.18 ▲ +1.17% USDS USDS $1.00 ▲ +0.05% WBT WBT $80.40 ▲ +0.35% LINK LINK $12.03 ▲ +0.53% LEO LEO $9.04 ▲ +0.04% ADA ADA $0.217892 ▼ -0.79% NEAR NEAR $4.96 ▲ +1.34% RAIN RAIN $0.009147 ▼ -0.43% XLM XLM $0.176033 ▼ -0.77% BCH BCH $276.76 ▲ +1.11% USDE USDE $0.999723 ▲ +0.03% LTC LTC $59.61 ▲ +0.62% UNI UNI $7.34 ▲ +1.52%
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Institutional Investors see Bitcoin as a Hedge Against Inflation: JPMorgan.

Finally, Bitcoin has crossed the $50,000 resistance level and regained a $1-trillion market capitalization. According to JPMorgan, the rising interest from institutional investors as a hedge against Inflation played a significant role in the latest BTC rally.

“The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge,” the analysts said, arguing there has been a shift in perception as to the merits of BTC with gold. However, Institutions aren’t alone here. Earlier this week, Shark Tank star Kevin O’Leary revealed that Crypto now accounts for a larger allocation in his portfolio than gold.

The recent report from JPMorgan also provides two major factors it believes are behind the current rally.

  1. Recent assurances by US policymakers of not following China’s steps of banning the usage or mining of Cryptocurrencies.
  2. Rise of Lightning Network and 2nd layer payments solutions due to El Salvador’s Bitcoin adoption.

Although some divisions of JPMorgan highlight a growing interest in Crypto assets and Blockchain initiatives, CEO Jamie Dimon stated in an interview that he remains a skeptic of BTC and even compared it to “a little bit of fool’s gold.”

Disclaimer:  The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.

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