In step with JPMorgan strategist Nikolaos Panigirtzoglou, the worth of Bitcoin, the main cryptocurrency by market cap, might possibly well theoretically attain the $170,000 diploma if it gets valued the identical as gold.
That is no longer a prediction, nonetheless a theoretical comparison to recount Bitcoin’s upside likely.
The strategist has adjusted for Bitcoin’s better volatility in comparison to gold.
JPMorgan has estimated Bitcoin’s production payment (payment to mine one BTC) is around $90,000, down from $94,000 in mid-November.
This decline is resulting from lower hash payment and lower mining say after China bolstered its mining ban.
The strategist sees the production payment as a cushy payment floor, which implies that miners won’t sell beneath payment.
Gold’s stout three hundred and sixty five days
Gold is heading within the right course to file its most attention-grabbing calendar three hundred and sixty five days since 1979, vastly outperforming BTC.
The yellow metal is up 62% in opposition to its digital rival this three hundred and sixty five days, demolishing the “safe haven” yarn pushed by Bitcoin advocates.
The confluence of payment-lower expectations, US greenback weak point, and geopolitical chance created the true atmosphere for a in fact intensive gold rally.
In 2025, central banks (seriously China, India, and Turkey) persisted file gold purchases.
Bitcoin, on the different hand, lately plummeted to $80,000. On the different hand, JPMorgan is happy that the flagship cryptocurrency shall be in a effect to outperform in 2026.
