JPMorgan Chase Co .: Bitcoin has significant growth potential

The first cryptocurrency has high growth potential in the future, according to analysts of the American investment bank JPMorgan Chase Co. In their latest report, they highlight the potential for Bitcoin as an alternative currency during difficult economic times.

Thus, it is noted that in the coming decades, the trend of the market movement will be set by millennials who prefer digital tools when conducting transactions. “Even a modest crowding out of gold as an alternative currency in the long term would mean a positive impact on the growth of the price of bitcoin,” experts at JPMorgan Chase Co. note, stressing that the fact that it can act as a means of payment in unlike precious metals.

Note that the bitcoin rate has shown significant growth since the beginning of this year (the asset has added more than 70% to the price). The adoption of the asset is facilitated by the actions of large companies. So, last week the payment giant PayPal Holdings Inc. allowed its users to buy, sell and exchange digital assets.