Bitcoin has already surpassed gold in investor portfolio allocation

JPMorgan analysts said that, when adjusting for volatility, ‘s allocation in investor portfolios has already outpaced that of gold. Specifically, the flagship cryptocurrency has a 3.7 times greater allocation compared to the bullion.

They highlighted a net inflow of $9 billion into Bitcoin ETFs since their inception, accounting for outflows from Grayscale, and suggests a potential Bitcoin ETF market size could reach $62 billion if gold is used as a benchmark.

February marked one of the most optimistic periods for the cryptocurrency market, with the total market capitalization surging by nearly 40% month-over-month to $2.2 trillion.

This surge was primarily led by a 45% increase in Bitcoin and a 47% rise in . While altcoins lagged behind in performance, they still recorded double-digit gains. Both decentralized finance (DeFi) and non-fungible token (NFT) sectors also saw gains during this rally.

Net sales for Spot Bitcoin ETFs climbed to $6.1 billion in February, up from $1.5 billion in January.

BTC’s value surged by 33% in the past two weeks, reaching a new all-time high, a rise that occurred alongside significant inflows into spot Bitcoin ETFs. Similarly, crypto mining stocks also touched new record highs in February.