JPMorgan Says Bitcoin Replacing Gold as Top Debasement Hedge as ETF Flows Diverge

JPMorgan Chase analysts report that Bitcoin is increasingly favored over gold as investors' preferred hedge against currency debasement, marking a major shift in institutional and retail behavior. Since the Iran conflict began, Bitcoin has gained nearly 19% while gold has declined around 5%. Bitcoin ETFs are recording inflows while gold flows diverge, according to the May 8, 2026 analysis.

Bitcoin versus gold performance

• ▪Bitcoin has gained nearly 19% since the Iran conflict began.
• ▪Gold has declined around 5% since the Iran conflict began.

Currency debasement hedge shift

• ▪JPMorgan Chase says Bitcoin is increasingly being favored over gold as investors' preferred hedge against currency debasement.
• ▪The article about JPMorgan's Bitcoin and gold analysis was published on May 8, 2026.
• ▪JPMorgan Chase noted a major shift in both institutional and retail investor behavior regarding Bitcoin versus gold as a debasement hedge.

2 sources