JPMorgan adjusts Bitcoin price target to $130,000, expects strong institutional adoption

JPMorgan adjusts Bitcoin price target to $130,000, expects strong institutional adoption

JPMorgan asserts that as Bitcoin’s volatility drops, more institutional investors will come on board. According to them, professional investors will be more comfortable seeking Bitcoin exposure now that price swings are less mercurial.

In the long-term, Bitcoin could rise to $130,000 if it were to reach the total private sector investment of gold. The banking giant explained:

In the past few months, Bitcoin has welcomed massive investment from institutional players, including Tesla (NASDAQ:TSLA), MicroStrategy, and China’s Meitu.

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