JP Morgan has reiterated its view that US$38,000 is a fair price for bitcoin, 20% higher than the digital asset’s value at press time. The investment bank’s strategist last provided the fair value estimate in February.
In a note to its clients last week, JPMorgan said it is replacing real estate with crypto assets as its preferred alternative asset class along with hedge funds. As at May 31, bitcoin is trading at US$31,669 apiece, representing a 31% decline year-to-date.
