Analysts at JPMorgan have reported that, according to their estimates, the fair market value of Bitcoin is $126,000. Experts believe that the first cryptocurrency has the potential for further growth and is currently undervalued compared to gold.
This is reported by Business • Media
Bitcoin Volatility at Historic Low
According to JPMorgan specialists, the current price of Bitcoin is significantly lower than its theoretical value, especially considering the decrease in volatility. Bitcoin’s volatility has fallen from nearly 60% at the beginning of the year to 30% in August 2025, marking a historic low for this asset. This, according to the bank, indicates a stabilization of the cryptocurrency market.
“Yes, this is the outlook we highlighted in our note, and we expect it to materialize by the end of the year,” said Nikolaos Panigirtzoglou, the bank’s managing director.
According to JPMorgan’s calculations, if at the end of 2024 Bitcoin was trading at $36,000 above its fair price, its current value is approximately $13,000 lower than it should be. This opens up room for potential price growth.
Corporate Purchases and Investment Flows
Experts note that corporate purchases have a significant impact on the value of Bitcoin. Currently, companies own over 6% of the total supply of the first cryptocurrency, which contributes to reduced volatility. The bank compares this trend to the quantitative easing policy following the 2008 financial crisis, when central banks bought bonds to stabilize the market.
Another driver is the passive investment flows that have increased after several companies were included in global stock indices. For example, Strategy (formerly MicroStrategy) and Metaplanet attracted new investments after being included in key benchmarks.
Competition among corporate treasuries is intensifying. KindlyMD has applied to raise up to $5 billion in investments after announcing Bitcoin as its primary reserve asset, while the BSTR structure led by Adam Back aims to become the second-largest corporate holder of Bitcoin after Strategy.
Bank analysts emphasize that the combination of corporate accumulation, reduced volatility, and index inflows makes Bitcoin increasingly attractive to institutional investors. The decrease in risk also simplifies capital allocation, and the risk metrics of Bitcoin and gold are gradually converging.
At the time of preparing this material, the price of Bitcoin stands at $110,100 according to TradingView.
The report from Bitwise also contains a forecast suggesting that the price of Bitcoin could reach $1.3 million by 2035.