Here’s Why Grayscale Bitcoin Trust Popped Today

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Shares of Grayscale Bitcoin Trust (OTC: GBTC) jumped 12% on Tuesday after JPMorgan issued an extremely bullish forecast for the price of bitcoin.  

JPMorgan’s analysts believe the popular cryptocurrency could rise as high as $146,000 per coin, as more people begin to view it as a digital version of gold. That would bring the total value of all bitcoins to roughly $2.7 trillion, or about equal to the total amount of money private investors currently have allocated to gold.

Grayscale Bitcoin Trust’s price is soaring along with that of bitcoin. Image source: Getty Images.

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