JPMorgan says BTC’s ‘fair price’ is $35K… but it still expects crypto to ‘outperform’

American multinational investment bank JPMorgan has put a price on Bitcoin and it is a lot less than the asset currently trades for.

In a report to investors as part of the bank’s inaugural outlook focused on alternative investments, strategists stated that alternative assets which include cryptocurrencies “should continue to outperform into 2022.”

They also asserted that Bitcoin’s “fair value” is around $35,000 based on the firm’s price model, which roughly 45% lower than its current trading price of $63,281. Nevertheless a price target of $73,000 seems reasonable should the relative volatility continue into next year, the strategists added, but not the sky high targets many expect.

“This challenges the idea that a price target of $100K or above, which appears to be the current consensus for 2022, is a sustainable Bitcoin target in the absence of a significant decline in Bitcoin volatility.”

They did suggest that the current entry point “looks unattractive,” but crypto assets are on a “multiyear structural ascent.”

The analysts concluded that the alternative asset class, which includes private debt and private equity, will return 11% next year, double the 5% gain from stocks and fixed income. However, they did not recommend crypto as a “core holding” due to its volatility.

Related: JPMorgan sounds alarm over ‘frothy’ crypto markets after August boom

The JPM strategists warned about volatility in early September following bullish market activity in August which saw total crypto capitalization top $2 trillion by the end of August. Two months later, that market cap has increased by 35% to $2.87 trillion according to CoinGecko.

In late September, JPMorgan CEO Jamie Dimon said that Bitcoin prices could still increase by ten times, but he isn’t interested in investing in it. He also said the asset was “worthless” the following month.

The bank’s retail wealth clients clearly are interested in it and they were granted access to the crypto asset class in July. In early October, JPMorgan strategists noted that institutional investors were favoring Bitcoin over gold as a hedge against inflation.

Wall Street investment bank Morgan Stanley has also been providing analysis on crypto assets. On Nov. 1, the bank published a report for its wealth management clients detailing industry trends, crypto market metrics, and potential regulatory impacts.

Morgan Stanley is one of a number of major investment banks including JPMorgan, Wells Fargo, UBS, Citigroup, and Goldman Sachs that have been scrambling to hire crypto experts recently according to reports.


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Brazilian Investment Bank Rolls-Out Cryptocurrency Trading Application

The cryptocurrency industry continues to expand as many financial players join to utilize its constantly emerging opportunities.

There have been plans amongst many central banks around the globe to launch digital coins in the name of CBDCs. Many financial institutions, especially in the investment markets, are taking the lead to support the industry.

In recent news, a Brazillian investment bank has rolled out a crypto-trading app that features many altcoins. BTG Pactual customers can now utilize this app for direct crypto investments. For now, users of its Mynt platform can buy both Ether and BTC. However, the bank is also making plans to support more crypto assets.

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Brazilian Investment Bank Rolls-Out Cryptocurrency Trading Application

Brazilian Investment Bank Rolls-Out Cryptocurrency Trading Application

Cryptocurrency market rises by 2% today | Source: Crypto Total Market Cap on

According to the bank’s head of virtual assets, Andre Porthilo, there will be more cryptos to trade on the platform very soon.

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The CEO, however, mentioned that they only fulfilled the wants of their customers. Robert Sallout disclosed that many of their clients showed interest in cryptocurrency investment. So the bank had no choice but to provide access for them.

Plans To Hold Cryptocurrency Training

The crypto industry is becoming more popular, with El Salvador adopting BTC as a legal tender. However, many people still don’t understand the mechanics of the industry. As such, BTC Pactual aims to provide training geared towards cryptocurrency education, especially for its users.

Related Reading | Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto

According to the CEO, the bank has to educate its customers about the technology and the available cryptocurrency assets in the financial markets.

The app known as Mynt has placed the investment bank at the forefront in the Brazilian market. No other investment bank has done what BTC Pactual has done by allowing their customers to invest directly into crypto.

Moreover, Porthilo mentioned that the bank is operating under strict regulations of the Brazilian central bank and its SEC. So, users will use the app with ease, given the top bodies regulating it.

BTC Pactual’s Journey So Far

Before launching Mynt, the investment bank had earlier launched a security token, ReitBZ, backed with real estate. The launch was two years ago, but earlier, the bank spent time analyzing digital assets.

Related Reading | Bitcoin “Supertrend” Begins As Buy Signals Stack On All Major Timeframes

Apart from the Mynt launch this year, BTC Pactual had earlier launched a Bitcoin 20 Multi-Market investment fund. This move placed the bank at the top institution that has launched a cryptocurrency fund amid other investment banks in Brazil.

Featured Image From Pixabay and Chart From


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Goldman Sachs Launches Crypto Trading Desk: Report

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