JPMorgan Estimates Bitcoin’s ‘Fair Value’ at $38,000, 12% Below Current Price (2024)

FAQs

What is the fair price of Bitcoin JPMorgan? ›

Bitcoin 's volatility in relation to gold has declined modestly, suggesting a “fair value” of $38,000 for the cryptocurrency and implying “significant upside for digital assets,” said a team of J.P. Morgan strategists led by Nikolaos Panigirtzoglou in a note on Wednesday.

“I think all that's been a waste of time and why you guys waste any breath on it is totally beyond me,” he told CNBC. “Bitcoin itself is a hyped up fraud. It's a pet rock.” This isn't the first time Dimon has expressed his doubts about cryptocurrencies—or used a “pet rock” analogy to describe digital assets.

Despite the crypto slump, banking giant JPMorgan says bitcoin is massively undervalued. Maintaining its estimate of bitcoin's fair value at $38,000, the bank today reiterated the assessment it gave the asset in February when the cryptocurrency was trading around $43,400.

Bitcoin's future

In 2140, for example, which is when the last allowable bitcoin is projected to be mined, its fair value would be around $74,000, according to Erb's calculations. Given where bitcoin is trading today, that's equivalent to a return over the next 117 years of 1.0% annualized.

Giving longer-term price targets for bitcoin in 2030, DigitalCoinPrice, as of 18 April 2023, suggested that the coin could trade at an average price of $305,981.72 in 2030.

CoinMarketCap. CoinMarketCap is the cryptocurrency world's "go-to price checker for as long as anyone can remember," according to Bitcoin.com.

Naveen Mallela currently leads Coin Systems globally for Onyx by J.P. Morgan.

This week, JPMorgan completed its first live cross-border transaction on a public blockchain using the ethereum layer-two network Polygon MATIC -3.9% , designed to help ethereum scale, and a modified version of the aave protocol—a DeFi technology that allows people to lend and borrow without the need for a trusted ...

According to JPMorgan's Thursday note, “Institutional investors appear to be returning to Bitcoin, perhaps seeing it as a better inflation hedge than gold.” The note comes as no surprise for those who have been following investments in Bitcoin in 2021.

Warren Buffett doesn't see much value in Bitcoin, despite its recent price rise. The Berkshire Hathaway boss sympathizes, however, with people hoping to get rich quick off it. “Something like Bitcoin, it is a gambling token, and it doesn't have any intrinsic value.

Does Warren Buffett hold Bitcoin? ›

Warren Buffett says he doesn't own bitcoin because 'it isn't going to do anything' — he'd rather own these 2 highly coveted and productive assets instead.

The 91-year-old believes assets need to have a value and there's only one currency that's accepted, and it's not crypto. "If you told me you owned all the bitcoin in the world and you offered it to me for $25, I wouldn't take it.

Answer: Bitcoin could be worth between $800,000 and $1 million in 10 years based on analysts' predictions. The $1 million price target is anticipated in 2030.

Bitcoin Price Prediction 2024

After the analysis of the prices of Bitcoin in previous years, it is assumed that in 2024, the minimum price of Bitcoin will be around $$48,931.91. The maximum expected BTC price may be around $$59,212.53. On average, the trading price might be $$50,675.70 in 2024.

That $1,000 investment would be worth $1,559.04. This represents a hypothetical return of 55.9% over the last five years or an average annual return of 11.2%.

Only 7% of the supply (1.356 million BTC, worth $36.4 billion) is distributed among the nearly 46.5 million addresses with at least some bitcoin — but less than one — per BitInfoCharts. The other 93% (18 million BTC, worth $482.7 billion) exists in the one million addresses that now own a full BTC.

Who is better than Bitcoin? ›

Ethereum leverages blockchain technology for its decentralized, transparent system. The technology enables functionality beyond digital currency, such as decentralized applications and smart contracts. The developer community is one of the largest. The Ethereum platform processes transactions faster than Bitcoin.

Unfortunately, you can't buy crypto on their platform directly. However, the parent company, investment bank JPMorgan Chase, does allow customers to invest in crypto-related funds.

1. Changpeng Zhao (CZ) – Founder of Binance, Changpeng Zhao (CZ) is one of the richest crypto billionaires in the world. Zhao's net worth is estimated at $1.9 billion. 2.

USD Coin (USDC) is a digital stablecoin pegged to the United States dollar. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.

JPMorgan Replaces Real Estate With Crypto As Its Preferred Alternative Asset. Financial services giant JPMorgan Chase said it was cautious on real estate in a note to investors this week and replaced real estate with cryptocurrency as its preferred alternative asset.

Now that JP Morgan owns a significant stake of this infrastructure, they basically own Ethereum.

But crypto executives said JPMorgan and Citi have been the most welcoming to crypto companies. Goldman Sachs, which banks a select number of crypto companies including Gemini, declined to comment — as did Citi and Wells Fargo.

Gold has long been hailed as the ultimate hedge against inflation. This is because it has a relatively limited supply and is used in tangible products like jewelry.

Gold's proven longevity and appeal as an inflation hedge provides a safer investment choice than crypto. As a relatively new market, Bitcoin is still light on regulation and the future of the market is still unclear, unlike Gold.

Who is the billionaire that invested in Bitcoin? ›

Billionaire Investor Bill Miller Now Has 50% of His Personal Wealth in Bitcoin.

reached their all-time high in 2021. The global market cap reached great heights. Not just that, many people made fortunes out of this gold rush, seven people became billionaires via crypto, bringing the total number of crypto billionaires to 19 as per the Forbes Billionares list.

Bitcoin Billionaires

The four addresses with the most bitcoin belong to Binance, Bitfinex, and another address, whose identity is unknown. These four addresses collectively own more than 663,000 bitcoin. The exchange addresses represent the holdings of many individual investors who are not holding their own keys.

Berkshire Hathaway made its crypto investment public with a SEC filing earlier this week. It revealed that Buffett's company had purchased $1 billion in shares of Nubank, a digital bank based in Brazil, and the largest of its kind in Latin America.

Satoshi Nakamoto (born 5 April 1975) is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation.

In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls. Until the time that Bitcoin's ecosystem matures, it will continue to be viewed with distrust by established authorities.

Bitcoin Encourages Criminal Activities

Another common argument against Bitcoin is that it encourages criminal activities like drug trafficking. Those who support this argument note that criminals and criminal networks have used Bitcoin to conceal their tracks from law enforcement.

Summary. A currency can transact directly without being referenced to a market price. Cryptocurrency is not currency. The more crypto gets used for transactions the more selling pressure there is on crypto.

The research report put together by Ark Invest sees Bitcoin hitting price targets in 2030 of $258,500 in the bearish forecast, $682,000 in the average market and $1.48 million in a bullish market.

What happens every 4 years with Bitcoin? ›

The bitcoin halving is an event that happens roughly every four years where rewards to miners are cut in halve, effectively limiting supply of the token.

Pikamoon (PIKA) – A play-to-earn Pokemon-inspired blockchain project. The 10,000+ whitelist signups and over 15,000 social media followers indicate it will be one of the next cryptocurrencies to explode in 2023.

RobotEra promises to be one of the biggest new play-to-earn crypto games of 2023. The project's presale has already raised more than $1 million from investors, and Stage 1 is more than 50% sold out. So, investors only have a limited amount of time remaining before the price of $TARO increases.

Bitcoin price prediction for 2050

According to the calculation, Bitcoin's price could increase to $6,680,000 by 2050 and grow by more than +27,700% over the next 27 years. Bitcoin could become a multi-million dollar asset by 2050.

And, post this mini-bull run, there are several discussions running around that the world's largest digital coin, BTC, could even witness a level of $10 lakh by the year 2025. This notable and hypothetical figure of $10 lakh has been echoed by a number of prominent personalities in the crypto space.

Giving longer-term price targets for bitcoin in 2030, DigitalCoinPrice, as of 18 April 2023, suggested that the coin could trade at an average price of $305,981.72 in 2030.

Bitcoin (BTC) Overview

Bullish Bitcoin (BTC) price predictions range between $120,933.82 and $228,430.55 by 2030. Market analysts believe BTC could reach $94,059.64 by 2025.

Assuming the current price of bitcoin at $US26,164.58 as of May 25th, 2023, $100 would buy approximately 0.00382 bitcoin. If we take Cathie Wood's prediction of Bitcoin reaching $1.48 million by 2030, then that 0.00382 bitcoin would be worth around $5,654. This would be a return of over 5,600% on initial investment.

JP Morgan was also one of the first major US banks to provide its wealth management clients with access to Bitcoin and other cryptocurrency funds.

According to JPMorgan's Thursday note, “Institutional investors appear to be returning to Bitcoin, perhaps seeing it as a better inflation hedge than gold.” The note comes as no surprise for those who have been following investments in Bitcoin in 2021.

How much Bitcoin will $20 dollars buy? ›

20 US Dollar is 0.000744 Bitcoin.

Numerous platforms also welcome Chase Credit and Debit Cards as deposit methods. Chase Bank doesn't provide any services for cryptocurrency buying or selling, requiring the use of a compliant exchange. By employing a regulated US exchange, your transactions are secured and consumer protection is ensured.

The best crypto-friendly banks include Juno, Robinhood, Revolut, Ally Bank, and SoFi. Juno combines banking, crypto trading and cashback rewards, making it an excellent choice. Robinhood provides FDIC insurance and high APY on cashbalances, along with seamless crypto and stocks trading.

Warren Buffett calls Bitcoin a 'gambling token' but doesn't blame people for 'wanting to play the roulette wheel' Warren Buffett understands the temptation of Bitcoin but still doesn't like it. Warren Buffett doesn't see much value in Bitcoin, despite its recent price rise.

Two filings with the SEC have revealed the structure of Brevan Howard's new cryptocurrency hedge fund, which having raised more than $1 billion from institutional investors, is the world's largest crypto hedge fund, according to a report by Crypto Times.

The advantage of Bitcoin vs gold is that Bitcoin (BTC) has delivered significantly higher returns than other assets in recent years. While fiat currencies and very liquid assets can be hard to measure, digital assets like Bitcoin can appeal to potential investors due to their modern market position.

Bitcoin has produced a monster return

And this means that a $1,000 investment in Bitcoin back then would be worth a whopping $140,000 today. You'd be hard-pressed to find a more lucrative investment during the same time period.