Bitcoin Could Soon Be Worth $146,000 Each, According to JPMorgan Chase

Monstrous US bank JPMorgan Chase & Co. (NYSE:JPM) believes the price of Bitcoin could climb as much as 4.6x or so soon, which would make one Bitcoin worth $146,000 — as of now, one Bitcoin trades above $33,000, and JPMorgan theorizes that if Bitcoin continues to draw away purchasing volume from gold and other assets that used to be seen as safe havens, it could easily climb to lofty new heights.

Bitcoin has been on a tear lately, with record daily trading volume. The currency is capped at an eventual 21 million bitcoins, and 90 percent of all bitcoins will have been mined by around November of this year.

Bitcoin has been on a tear lately, with record daily trading volume. The currency is capped at an eventual 21 million bitcoins, and 90 percent of all bitcoins will have been mined by around November of this year.

JPMorgan also noted that younger investors and millennials are drawn to cryptocurrency, which could be fueling the recent rise in public interest online.

Continue reading: Here’s how bitcoin could soon be worth $146,000 according to JPMorgan — MarketWatch

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