Bitcoin too “undervalued” according to JPMorgan: CAP on $ 126,000

Bitcoin would currently be undervalued according to JPMorgan. In a note signed by analyst Nikolaos Panigirtzoglou, the American bank estimates that the BTC should reach 126,000 dollars by the end of the year, with regard to its historically low volatility. As its risk-performance profile is close to that of gold, bitcoin between perhaps in the most critical phase of its institutional adoption. It is a projection heavy with meaning for large capital beneficiaries.

A historically low level of volatility, catalyst for re -evaluation

While his Bull Run continues, JPMorgan analysts led by Nikolaos Panigirtzoglou believe that the current Bitcoin price is too low compared to gold, given the spectacular fall in its volatility.

According to them, Bitcoin saw its annual volatility go from almost 60 % at the start of the year to around 30 % today, a historic floor. This significant drop is, according to the bank, a fundamental element in the reassessment of the assets.

“Yes, it is this projection that we presented in our note, that we plan to reach by the end of the year”has clarified Panigrtzoglou, referring to their goal of $ 126,000 by the end of the year.

In their analysis, JPMorgan experts insist on the growing convergence between Bitcoin and Gold in terms of risk/yield profile. This transformation is based on several key elements:

• The Bitcoin/Or volatility ratio fell to 2.0, its lowest level ever recorded, which means that the BTC consumes twice as much capital risks gold in an institutional allowance;

• The valuation model adjusted to volatility indicates a “Just value” $ 126,000 for Bitcoin, if you want to align its weight with global private investments in gold (estimated at around 5,000 billion dollars);

• The total capitalization of Bitcoin should grow by around 13 % to achieve this goal.

This technical reading gives a tangible framework for the projection of JPMorgan, while emphasizing a deep change in the perception of bitcoin within traditional finance.

Pressure rises to corporate treasurers

Beyond the only drop in volatility, JPMorgan reveals another key phenomenon in the bitcoin bullish trajectory: the growing appetite of business cash for the asset. From now on, more than 6 % of the total BTC offer is owned by listed companies, a phenomenon that plays a central role in the stabilization of the market.

Analysts compare this dynamic to that observed after the 2008 crisis, when the quantitative Eating of central banks neutralized the bond market movements by absorbing a massive part of titles. “Companies accumulation acts in the same way on the Bitcoin market”indicate the analysts, speaking of a “Passive locking” of the available offer.

This movement is amplified by the domino effect of inclusions in the world's stock market indices, an often neglected, but capital factor. The addition of Michael Saylor's strategy to several major benchmarks has generated new passive flows, while Metaplanet, recently promoted to the Mid-CAP status in the Russell FTSE indices, joined the FTSE All-World Index, sparingly procating.

In addition, Kindlymd, a company listed in Nasdaq, has just submitted a file to raise up to 5 billion dollars, with a strategy resolutely focused on bitcoin as the main cash reserve. Finally, Adam Back and his BSTR company want to compete with the Digital Marathon to become the second largest BTC corporate holder, behind Strategy.

All of these dynamics draw the contours of a structural change in the role of Bitcoin in business. This rush to strategic accumulation, coupled with the drop in volatility, strengthens the argument that bitcoin is no longer simply a speculative asset, but a full -fledged balance sheet tool. If this trend is intensifying, companies may well become the referees of the next Haussier cycle, a profound change in the crypto market with its $ 4,000 MD of capitalization, with long -term implications for its valuation, liquidity, and integration into global portfolios.