摩根大通分析師表示，受到企業購入和美國州政府支持的推動，比特幣在2025下半年有望超越黃金上漲。Strategy和Metaplanet等公司持續加購比特幣，Strategy計劃至2027年再投入420億美元。新罕布什爾州和亞利桑那州等開始將比特幣納入儲備資產，加密衍生品市場成熟也吸引更多機構參與。

JPMorgan analysts said that driven by corporate purchases and support from U.S. state governments, Bitcoin is expected to outperform gold in price growth in the second half of 2025. Companies such as Strategy and Metaplanet have continued to increase their Bitcoin holdings, with Strategy planning to invest an additional $42 billion by 2027. States like New Hampshire and Arizona have begun incorporating Bitcoin into their reserve assets, and the maturity of the crypto derivatives market has attracted more institutional participation.