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JPMorgan Says Bitcoin Is Outpacing Gold in Debasement Trade After Iran Conflict
JPMorgan said bitcoin is gaining over gold as a debasement trade after the Iran conflict, with bitcoin ETFs drawing inflows for a third straight month in May. Gold ETFs are still struggling to recover the outflows they saw in March when the conflict erupted. JPMorgan also said CME bitcoin futures and offshore perpetual futures suggest institutional investors have increased bitcoin exposure.