Investment banking giant JP Morgan made a surprising course correction on cryptocurrency with the price of Bitcoin being ready for a further market capitalization of $500 billion according to senior analysts at Fidelity.

This is following a 250% price surge of Bitcoin after it hit a low in 2022. Top crypto companies such as Ethereum and XRP have grown alongside it, resulting in the crypto market hitting a value of over $2 trillion. 

Bitcoin is predicted to be crowned as the world’s “primary store-of-value”, therefore dethroning gold, according to evidence provided by Bitcoin exchange-traded fund data. Monetary gold is presently worth $6 trillion while Bitcoin is worth $1 trillion. According to Justin Timmer, the director of global macro at Fidelity, “Bitcoin will eventually capture about a quarter of the monetary gold market”. If this prediction comes true, its value will go up to $1.5 trillion. 

You may be interested to read other articles: Exploring the Genius of Albert Einstein, Unveiling the Evolution of Cryptocurrencies, Global Coffee Market, and GLAMOPH – Exploring Emotions in AI Art.