JPMorgan says bitcoin could rise to $146,000 long term

KEY POINTS

• JPMorgan said bitcoin could rally as high as $146,000 in the long term as it competes with gold as an “alternative” currency.
• Bitcoin’s volatility would need to drop substantially before it can match gold in terms of market value, the bank’s strategists said in a note Monday.
• JPMorgan CEO Jamie Dimon once called bitcoin a “fraud” and said he is more interested in blockchain technology than crypto.

Source: CNBC