Bitcoin Faces A $600 Billion Catalyst—JPMorgan Strategists Say

The Bitcoin price has seen a stunning rally throughout 2020, rising from $3,600 in March to over $19,000 in December. In the longer term, JPMorgan

JPM
strategists say a $600 billion catalyst potentially awaits for the dominant cryptocurrency.

According to a note from JPMorgan strategists including Nikolaos Panigirtzoglou, a 1% allocation from pension funds and insurance firms in the U.S., eurozone, U.K., and Japan would amount to $600 billion.

Currently, the market capitalization…