JPMorgan Chase has released a forecast indicating that Bitcoin has a strong chance of surpassing gold in growth rates in the second half of 2025. Experts believe that the continuously increasing demand for cryptocurrency derivatives will contribute to this, as reported by Decrypt, citing the bank’s report.
This is reported by Finway
Conditions for Bitcoin Growth
According to analysts at JPMorgan Chase, the cryptocurrency derivatives market has reached a certain level of “maturity,” which could act as a catalyst for Bitcoin’s growth. In their client note, they state:
“We expect the zero-sum game between gold and Bitcoin, which has been ongoing since the beginning of the year, to continue through the end of the year, but we believe that cryptocurrency-related catalysts will create greater growth potential for Bitcoin compared to gold in the second half of the year”
.
Development of Digital Assets
Experts also highlighted recent deals by platforms Coinbase and Kraken, which are actively expanding their capabilities in the derivatives segment. For instance, the Coinbase exchange acquired the Deribit platform for $2.9 billion, while Kraken made a deal to purchase NinjaTrader for $1.5 billion. Additionally, the Gemini exchange has obtained a license to offer derivatives in Europe, indicating the maturity of this sector.
At JPMorgan Chase, they believe that
“the world of cryptocurrency derivatives is evolving and, once regulated by the U.S. or EU, could foster trust and more active participation from traditional institutional investors”
. This creates a foundation for further growth of Bitcoin.
Interestingly, the bank previously reported that Bitcoin had not been able to realize its potential as a hedge asset compared to gold. However, the recent surge in Bitcoin’s price occurred against the backdrop of an agreement between the U.S. and China regarding tariff reductions, which may indicate its potential. Nevertheless, in the event of further escalation of the conflict, this factor could become a stimulus for gold’s growth, notes Argo platform head Michael Pech.