Institutional investors are dumping bitcoin in favor of gold, reversing a recent trend that’s played out over the last two quarters, according to a new report from JPMorgan.
Based on open interest in CME bitcoin futures contracts, the firm said large investors are shifting away from bitcoin after favoring the digital currency over gold beginning last fall.
“The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors,” JPMorgan…
