Ehi wo gang, I have been a little bit out of WO flow recently, but I read this big news from JPM:
JPMorgan Says Investors Could Make Bitcoin 1% of Portfolios
“In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio,” strategists including Joyce Chang and Amy Ho wrote in a note Wednesday.
JPM says a lot of things about bitcoin, but you can bet that bow they are ready to sell some shitty bitcoin related product to their clients bow, so they are trying to convince everyone it is a legit product.
In addition to that a very bullish thing to me.
When I decided to buy bitcoin I made a few back of the envelope calculation. The first one was about gold parity, pointing to 350k dollar at the time (now more in the 500k region).
A second one was about the answer of the following question: what if everyone put 1% of their financial wealth on bitcoin.
So a few computation (getting updated figures for gold parity consistency):
World financial wealth (Credit Suisse 2020) : 360 Trln
1% : 3.60 Trillion
This has to becdivided over
21 million bitcoins (I want a conservative number)
Target price: 170,000 USD
Not bad.
Bullish.
My body is ready.
