JPMorgan highlights four key reasons for the growing global demand for Bitcoin (BTC):

1. Geopolitical tensions since 2022 have pushed investors toward decentralized assets like BTC.
2. Inflation concerns are making people seek alternatives to fiat currencies, which lose value over time.
3. Government budget deficits in developed countries raise doubts about economic stability, making Bitcoin a hedge.
4. Falling trust in fiat currencies drives demand for BTC as a more reliable alternative.

These factors are contributing to Bitcoin's rising appeal as both a store of value and a hedge against instability.