BREAKDOWN: JPMorgan Discusses $600B in Potential New Bitcoin Demand
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 December 2020
⏱️ 15 minutes
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Summary
MassMutual’s $100M BTC investment has the potential to open a massive new investment category, according to analysts.
This episode is sponsored by Crypto.com and Nexo.io.
Today on the Brief:
- First COVID-19 vaccines roll out in the U.S.
- Are IPOs the new ICOs?
- U.S. Treasury and other federal departments hacked
Our main discussion: A massive new category of bitcoin demand?
Last week, when MassMutual announced its $100 million buy, NLW explored whether it would be the beginning of a trend for other insurance companies. A recent note from JPMorgan analysts suggests that even a 1% allocation by that category of company in major markets in the U.S., Europe and Japan could represent $600 billion of new demand.
NLW also discusses recent comments from long-term institutional bitcoin and crypto bulls including Chamath Palihapitiya and Abigail Johnson.
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Transcript
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| 0:00.0 | J.P. Morgan analysts wrote, |
| 0:02.1 | Mass Mutual's Bitcoin purchases represent another milestone in Bitcoin adoption by |
| 0:07.2 | institutional investors. One can see the potential demand that could arise over the coming |
| 0:12.0 | years as other insurance companies and pension funds follow Mass Mutual's example. |
| 0:17.2 | When you have not only these big nine-figure buys, but influential analyst groups like J.P. Morgan |
| 0:24.4 | connecting the dots to the long term, who knows what could happen next. |
| 0:31.6 | Welcome back to The Breakdown with me, NLW. |
| 0:35.7 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:41.7 | The breakdown is sponsored by crypto.com and nexo.io and produced and distributed by CoinDest. |
| 0:49.3 | What's going on, guys? It is Monday, December 14th, and today we're talking about JP Morgan analysts discussing |
| 0:57.6 | 600 billion in potential new Bitcoin demand. First up, however, let's do the brief. First up on the |
| 1:05.8 | brief today, the first vaccine is here. Last week, the U.S. approved Pfizer BioBio-N-Tex COVID-19 vaccine, and today the first |
| 1:14.2 | doses started being administered. The first people to get the vaccine obviously are frontline |
| 1:19.6 | healthcare workers, and this is incredibly excited even though there are still a lot of challenges, |
| 1:25.1 | most notably getting people to actually take it. Also, how long it |
| 1:29.0 | takes to produce and roll out to everyone. Still, the head of the U.S. government vaccination |
| 1:33.6 | drive said up to 80% of the population could be given the shot by next summer. I think |
| 1:39.0 | it's worth noting just how remarkable a thing this is in terms of how fast this came together. It really shows the potential |
| 1:46.0 | of how much extra capacity we have, and frankly it should make us think about what we can achieve |
| 1:51.4 | with true moonshot efforts and focus. And I mean that both in terms of the science side and on the |
| 1:57.2 | elimination of bureaucracy side. Markets are, of course, very happy about this. The S&P 500 |
| 2:03.0 | halted a three-day slide and was up almost a percent at the time of recording. Nasdaq jumped |
... |
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