7 JPMorgan Predictions: Bitcoin (BTC) is Now “More Attractive” than Gold!

Jakarta, Pintu News – Major investment bank JPMorgan said that from a long-term perspective, Bitcoin (BTC) now appears more attractive as an investment asset than gold, despite the crypto’s volatile price.

This opinion comes amid global macro pressures and bearish sentiment in the cryptocurrency market, but gives a different perspective on Bitcoin’s role as a long-term investment instrument. Here are seven key points for both novice and experienced investors to understand.

1. JPMorgan Rates Bitcoin as More Attractive than Gold

JPMorgan, through its quantitative analysts, made a statement that is quite contrarian to the traditional view that gold is a long-term investment host asset. According to them, although Bitcoin has been under price pressure in recent times, on a risk-adjusted basis the crypto asset is now showing a more attractive value than gold. This assessment is based on the change in the volatility ratio between Bitcoin and gold, which is now at its lowest level ever recorded.

This view comes as gold has outperformed Bitcoin since October 2025, while gold’s volatility has also risen sharply. JPMorgan’s internal consensus is that these dynamics make Bitcoin appear more competitive in a long-term investment context.

Also Read: 5 Crypto that Whale is Eyeing in February 2026, Quietly Accumulating Amid Volatility

2. Risk Adjusted Based on Volatility

One of the reasons JPMorgan calls Bitcoin more attractive is the volatility ratio of the two assets. Bitcoin has great volatility, but compared to gold, Bitcoin’s volatility ratio to gold has fallen to a level that is considered better than before. This means that on a risk-adjusted basis, Bitcoin could provide higher potential returns if its volatility decreases or stabilizes in the future.

The volatility ratio is an important measure as it helps assess the potential gains relative to the risk investors are taking over the long term. Lower volatility relative to gold makes Bitcoin appear less risky from a relative risk standpoint than before.

3. Bitcoin Price Far Below Production Cost

JPMorgan also highlighted that Bitcoin price is currently trading below the estimated average production cost – around US$87,000 – which is considered a “soft price floor” or lower limit that is often an area of historical support. When the price drops below the cost of production, mining profitability decreases, leading some miners to shut down their operations.

However, from a long-term investment perspective, the current price position can be considered undervalued according to the risk-adjusted strategy analyzed by JPMorgan. This reflects a potential reversal in value if fundamentals favor the long-term trend.

4. Bitcoin’s Ambitious Capitalization Target

JPMorgan said that to match the level of private sector investment in gold, Bitcoin’s market capitalization needs to grow to a level equivalent to a price of around US$266,000 per BTC in the long term. This target takes into account the ratio between Bitcoin’s market cap and capital allocation in the gold sector by global institutions.

While this target looks very ambitious in the short term, it reflects Bitcoin’s long-term growth potential if it continues to gain wider adoption and integration in institutional investment portfolios.

5. Gold Performance and Investor Sentiment

Gold has shown strong gains in recent months, demonstrating strong safe-haven asset capabilities amid volatile global markets. However, the spike in gold volatility has also put pressure on investors’ perception of gold’s role as a long-term hedge asset.

Nevertheless, gold remains a very important asset in portfolio diversification, especially when investors seek safety against global economic turmoil and inflation.

6. Headwinds Facing the Crypto Market

JPMorgan also recognized that the crypto market faces a number of challenges in the short term, including strong price corrections and macroeconomic pressures. The sell-off and bearish sentiment has seen capital flows into cryptocurrencies weaken, including a decline in retail and institutional investor participation.

While short-term risks remain, the bank assesses the dynamics are not indicative of a mass exit from the crypto market, but rather a natural response to the contraction in total market capitalization.

7. Implications for Investment Strategy

JPMorgan’s view provides a new perspective for crypto investors and the broader market that Bitcoin may be worth considering as part of a long-term diversification strategy. While volatility and risk remain high, the potential long-term returns based on risk-adjusted ratios could be attractive to investors who understand those risk dynamics.

Investors are advised to remain cautious in evaluating market conditions and structuring asset allocation according to personal risk tolerance, given that short-term movements in the crypto market can be very dynamic and volatile.

Also Read: 3 Crypto Underrated in February 2026 that Investors are Starting to Look at, Not Just Hype!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Investing.com. JPMorgan quant says Bitcoin now looks more attractive than gold long term. Accessed February 6, 2026.