The Bitcoin price has seen a stunning rally throughout 2020, rising from $3,600 in March to over $19,000 in December. In the longer term, JPMorgan JPM strategists say a $600 billion catalyst potentially awaits the dominant cryptocurrency. According to a note from JPMorgan strategists including Nikolaos Panigirtzoglou, a 1% allocation from pension funds and insurance firms in the U.S., eurozone, U.K., and Japan would amount to $600 billion. The optimistic stance towards the Bitcoin price from JPMorgan comes after MassMutual purchased $100 million worth of BTC. The weekly Bitcoin price chart.

Source: Forbes December 14, 2020 09:22 UTC