inflation concerns rather than exuberance about the first us bitcoin futures etf is driving the digital currency to record highs according to jpmorgan chase  co strategists “by itself the launch of bito is unlikely to trigger a new phase of significantly more fresh capital entering bitcoin” wrote strategists including nikolaos panigirtzoglou referring to the proshares bitcoin strategy etf “instead we believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing triggering a shift away from gold etfs into bitcoin funds since september”