JPMorgan estimates a demand of more than $ 600 billion in bitcoin

The largest US lender, JPMorgan, calculated that up to $ 600 billion could be invested in the popular cryptocurrency bitcoin, as specified in a report by the Bloomberg agency.

According to the publication, for this to happen it is necessary that insurance companies and pension funds in the US, Europe and Japan invest only 1 % of their assets in the cryptocurrency.

By accomplishing this action, a powerful sum of money could be injected into the $ 600 billion bitcoin market.

For his part, JPMorgan analyst Nikolaos Panigirtzoglou, assured that bitcoin is prepared to take on such demand and also predicts that more institutions will follow the example of MassMutuak, thus triggering a domino effect.

MassMutual’s Bitcoin purchases represent another milestone in the adoption of bitcoin by institutional investors. You can see the potential demand that could emerge in the coming years as other insurance companies and pension funds follow MassMutual’s lead,” JPMorgan reported.

K. Villarroel

Source: diariobitcoin