When JPM called BTC undervalued vs. gold on a risk-adjusted basis, BTC was $121k, and gold was $3,856.Two weeks later, this has widened out substantially.If there's any meaningful rotation out of metals and out on the risk curve, BTC is increasingly cheap as the days go by.matthew sigel, recovering CFA (@matthew_sigel):🚨JPM Says Bitcoin Undervalued vs. Gold, Highlights "Significant Upside" to $165k."The steep rise in the gold price over the past month has made bitcoin more attractive to investors relative t ...