![Bitcoin’s Inflation Narrative More Compelling Than ETF Fever, JPM Says Bitcoin’s Inflation Narrative More Compelling Than ETF Fever, JPM Says](https://www.coindesk.com/resizer/9mxKu3WdoAC-c-BGK6NttKXLK6A=/1200x628/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2XGZ7QOFSZCQ5PQ5BNULW4CRCE.jpg)
![Bitcoin’s Inflation Narrative More Compelling Than ETF Fever, JPM Says Bitcoin’s Inflation Narrative More Compelling Than ETF Fever, JPM Says](https://www.coindesk.com/resizer/9mxKu3WdoAC-c-BGK6NttKXLK6A=/1200x628/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2XGZ7QOFSZCQ5PQ5BNULW4CRCE.jpg)
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This week’s launch of the ProShares Bitcoin Strategy Exchange-Traded Fund (stock ticker BITO) may have aided the cryptocurrency’s recent price surge to an all-time high, though the perception of bitcoin as an inflation hedge over gold is probably a bigger factor, a JPMorgan strategist wrote Thursday.
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