JPMorgan internal report: Bitcoin is here to stay

[LeGaulois]

JPMorganPMorgan has predicted that cryptocurrencies, such as Ripple, Bitcoin, Ethereum, Cardano, Dash, Litcoin, etc. are here to stay. The observation has been mentioned in an internal report of the American multinational investment bank and financial services company, headquartered in New York City.
The internal report fully contradicts the publicly-held opinions of the company related to cryptocurrency. Earlier in 2016, the company's CEO Jamie Dimon had called Bitcoin a "fraud," before being sued for his statement.
According to the JPMorgan internal report, the cryptocurrencies prices would continue to fluctuate and face volatility. The report seems to have quite a positive outlook towards blockchain, the technology behind cryptocurrency. It noted that blockchain appeared to have a promising future once the loopholes were fixed in the technology.

Investors would invest in it for decentralization, and they'd continue to thrive and evolve with the peer to peer networks and the nature of anonymity of virtual currencies, the report said.

Every crypto enthusiast is eagerly awaiting to see whether the company's public opinion on the issue also changes with time. The increased volatility and the current market scenario are making investors feel skeptical about the future of digital currencies. However, with a million dollar market cap most of the cryptocurrencies would not fail. That is why the majority of investors and crypto enthusiasts believe that cryptocurrencies are here to stay even if they remain stagnant for a while.

Most of the investors are holding digital currencies for a lengthy period. This could be the major reason behind investors not liquidating despite major plunge in crypto market. It is easy to support cryptocurrencies when the market is down and investors are backing it. We have to wait to see whether JPMorgan comes out in support of cryptocurrencies publicly in due course of time or not.

https://bcfocus.com/news/jpmorgan-internal-report-ripple-bitcoin-ethereum-cardano-dash-litcoin-are-here-to-stay/17602/

It doesn't happen a lot we see a news telling a bank is talking positively about the crypto market. Jamie Dimon is surely going to fire some guys for this report   I wonder if he may change his mind and remove the ban regarding the purchases of cryptos with a credit card, and who knows why not starting to accept Bitcoin transactions....

[1714079087]

1714079087

[1714079087]

1714079087

[1714079087]

1714079087

[Pursuer]

JPMorgan is the clear definition of a paradox.
the CEO calls bitcoin "fraud" then later on we find out JPMorgan have been buying bitcoin. they talk about how bad bitcoin is and how it is going to die then they have a report like this saying it is here to stay!

this part was specifically funny and paradoxical:

JPMorganPMorgan has predicted that cryptocurrencies, such as Ripple, ..., Ethereum, .... are here to stay.
Investors would invest in it for decentralization,

[KevenDabid]

This is an interesting phenomenon. I think JP is just a businessman.
They just want to make a profit, so releasing bad news for the encrypted money market will help them buy the cheap BTC.

[longwintershere]

JPMorganPMorgan has predicted that cryptocurrencies, such as Ripple, Bitcoin, Ethereum, Cardano, Dash, Litcoin, etc. are here to stay. The observation has been mentioned in an internal report of the American multinational investment bank and financial services company, headquartered in New York City.
The internal report fully contradicts the publicly-held opinions of the company related to cryptocurrency. Earlier in 2016, the company's CEO Jamie Dimon had called Bitcoin a "fraud," before being sued for his statement.
According to the JPMorgan internal report, the cryptocurrencies prices would continue to fluctuate and face volatility. The report seems to have quite a positive outlook towards blockchain, the technology behind cryptocurrency. It noted that blockchain appeared to have a promising future once the loopholes were fixed in the technology.

Investors would invest in it for decentralization, and they'd continue to thrive and evolve with the peer to peer networks and the nature of anonymity of virtual currencies, the report said.

Every crypto enthusiast is eagerly awaiting to see whether the company's public opinion on the issue also changes with time. The increased volatility and the current market scenario are making investors feel skeptical about the future of digital currencies. However, with a million dollar market cap most of the cryptocurrencies would not fail. That is why the majority of investors and crypto enthusiasts believe that cryptocurrencies are here to stay even if they remain stagnant for a while.

Most of the investors are holding digital currencies for a lengthy period. This could be the major reason behind investors not liquidating despite major plunge in crypto market. It is easy to support cryptocurrencies when the market is down and investors are backing it. We have to wait to see whether JPMorgan comes out in support of cryptocurrencies publicly in due course of time or not.

https://bcfocus.com/news/jpmorgan-internal-report-ripple-bitcoin-ethereum-cardano-dash-litcoin-are-here-to-stay/17602/

It doesn't happen a lot we see a news telling a bank is talking positively about the crypto market. Jamie Dimon is surely going to fire some guys for this report   I wonder if he may change his mind and remove the ban regarding the purchases of cryptos with a credit card, and who knows why not starting to accept Bitcoin transactions....

They're here to stay, regulators are making this pretty clear The question is what roles are they going to play within society, that is yet to be determined. Let's hope they won't get centralized

[butka]

This is interesting:

The report seems to have quite a positive outlook towards blockchain, the technology behind cryptocurrency. It noted that blockchain appeared to have a promising future once the loopholes were fixed in the technology.

They all seem to like blockchain technology. It looks to me that they would all be extremely happy if they could just adopt the technology without the decentralization part. Luckily they cannot do that.

And what loopholes are they talking about? There are no loopholes, at least when it comes to Bitcoin. Very funny.

[butterfy]

Blockchain technology is suitable for many industries, and the application of blockchain technology will gradually become the norm.
Encryption is only a derivative of the blockchain, and it will rise with the development of the blockchain.

[vlom31]

There is absolutely no doubt about the blockchain, what remains to be seen is the token's utility and future ..

But definitely good news to see such reports from those big institutions.


Mehdi

[talkbitcoin]

i think this is mostly because they are looking to get into the scene themselves.  i remember reading that JPMorgan is actually looking into the blockchain technology and are going to implement it in their services to increase their security,...
this can be like the groundwork of that final goal. first they start showing a good face towards bitcoin but in reality they are interested in its technology to rip it off.

[LeGaulois]

i think this is mostly because they are looking to get into the scene themselves.  i remember reading that JPMorgan is actually looking into the blockchain technology and are going to implement it in their services to increase their security,...
this can be like the groundwork of that final goal. first they start showing a good face towards bitcoin but in reality they are interested in its technology to rip it off.

I remember JPMorgan created something like a coin. Auroracoin is the name or something like that but it's targetting finance institutions if I am correct. It clearly shows that they're interested in the blockchain technology itself and admit the top cryptocurrencies are here to stay.
Don't we say: If you can not beat them, join them? 

[LogitechMouse]

At first, JPMorgan CEO is telling that bitcoin is a "fraud" or other negative things about it blah blah blah but now he is telling that Bitcoin is now here to stay 

Now he realizes that banks can't beat cryptocurrency and I agree with the motto of  @LeGaulois, If you can not beat them, join them or maybe he can see the benefits of blockchain technology in his business as a bank owner or maybe he is just saying this to profit him and other rich peoples. Anyway, I'm happy that some big people are embracing the crypto and the blockchain technology right now. I hope more and more popular people will do the same in the future.

[nanasei]

The big banks are seriously secretly investing and doing cryptocurrency investment yet they will openly condemned it in order to protect their interest of maintaining their paymasters( clients)

[BitcoinFX]

JPMorgan CEO Jamie Dimon: I Could Care Less About Bitcoin | CNBC
- https://youtu.be/40OuVyVGdIM?t=1m40s
"... this is not even a technological statement ..."

and in other news ... 'I really don't care. Do U?'.

...

 

[jeamfpvd]

I estimate that JPMorganPMorgan has bought a lot of bitcoins, so that's why. Remember that they were against bitcoin.