3. JPMorgan advises clients to expose 1% of their portfolio to Bitcoin

JPMorgan advises clients to expose 1% of their portfolio to Bitcoin

I can't wrap my head around this argument. Let's say the intrinsic value of gold is $10 and it trades at $1000. That means 99% of its value is based on a "store of value", so in essence 99% similar to bitcoin. 99% is arbitrary in this example, but gives me two thoughts:

  • Does having ANY intrinsic value above 0 justify valuations several multiples above that? If I invested in gold and lots 90%+ of my value, am I really that much better off then bitcoin losing 100% of its value?

  • Does having 0 intrinsic value really mean something can't be valuable? I have my doubts in our digital world. I don't know what the future holds, but taking a calculated risk here seems worth it.

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