JPMorgan analysts have identified Bitcoin as a crucial component in the 'debasement trade,' a strategy aimed at hedging against the erosion of fiat currencies. The bank has set a year-end price target of $165,000 for Bitcoin, highlighting its undervaluation compared to gold. As central banks continue to run deficits and inflation remains persistent, both Bitcoin and gold are being recognized for their hard scarcity and anti-inflationary properties. Institutional interest in Bitcoin is on the rise as traditional assets like cash and bonds lose appeal. Over the past three years, Bitcoin has outperformed the S&P 500 and gold in real terms, reinforcing its role as a hedge against currency devaluation. Analysts such as Luke Gromen and Matt Hougan emphasize that the 'debasement trade' is transforming asset protection strategies, with Bitcoin emerging as a vital tool for safeguarding against currency devaluation.