Bitcoin Allocations Matched With Gold?

Will Bitcoin ever match the gold in investors’ portfolios? 🏅

JP Morgan ($JPM) thinks that for Bitcoin to rub shoulders and match the allocation of gold in investor portfolios, its market cap would need to skyrocket to $3.3 trillion.

That’s a price tag that would see Bitcoin’s value more than double. But don’t hold your breath; JP Morgan analysts believe cryptos volatility is 3.7 times more volatile than gold—which keeps it from reaching such lofty heights. They suggest a more grounded future where Bitcoin’s market cap could shrink to $0.9 trillion, pegging its price at $45,000. 🤬

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Stocktwits Spotlight

Today, Cryptomartin shared an excellent post highlighting bitcoin spot ETFs fund flows. The crypto enthusiast writes

“Spot Bitcoin ETFs hit $14.8 million daily net inflow, first in 5 trading days. Spot Bitcoin ETFs breakthrough with a $14.8 million net inflow on the 11th trading day. GBTC sees reduced outflows at $255 million, but total outflows remain over $5 billion. Pre-ETF launch, GBTC’s BTC balance drops nearly 20% to 506,000 BTC.”

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Stripe Joins MetaMask

Buying crypto with fiat currency is smoother than ever. ⏩

MetaMask just unveiled its latest move: a partnership with Stripe for its US users. 

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Mark Cuban’s $900k Wallet Woe

Mark Cuban recently faced a significant crypto setback. An unexpected breach in his hot wallet led to a loss of around $900,000. 😲

The anomaly was first spotted by blockchain investigator Wazz, who noticed unusual activity in a previously dormant Cuban wallet. Within a short 10-minute span, assets like $USDC, $USDT, and Lido Staked $ETH were rapidly withdrawn.

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