JP Morgan says large firms will not follow Tesla's bitcoin move

[AndySt]

Those of you who follow Bitcoin for years now should see a pattern here. JP Morgan always bashes Bitcoin and tries to manipulate the market. I'd like to ask them why are they so interested in this? They're a fiat company so why the constant interest in Bitcoin?
I think otherwise. If after Musk's move companies like Uber started talking about bitcoin the machine is on the move and some Bank's opinions won't stop it.

He doesnt hold all of those minds behind of those institutions or companies even if JP is influencial but doesnt mean that they would really be having the power
to have those full rights on stopping on what they should gonna do.
They do really love to bash up Bitcoin after all these years but i wont be surprised that they've been secretly getting involved even though they do keep on telling
something negative to it. Who know right?

Everything can be and such words can only be a masterfully constructed smoke screen that hides the true state of things  However, this may be the opinion of individual representatives of JPMorgan, and other representatives may have a completely opposite opinion. What is the peculiarity of such forecasts is that they describe the likely scenarios and risks for investors and their opinion may change.

[aioc]

JP Morgan's stance is not very surprising. Their officials have taken a stance against cryptocurrency for a long time. But the good thing is that cryptocurrency users never take them seriously and as a result we are in good profit right now. PayPal also used to be hostile to Bitcoins a few years back. But now look where are they right now. I am quite confident that the same will happen to JP Morgan as well.

They are losing their potential profit by distancing themselves to Cryptocurrency, two big companies are now in and they are enjoying the profit, is this the unanimous decision of the whole board, they should go back to the drawing board they are missing something and they cannot go on being a hater of Cryptocurrency when obviously this is the future of investment.

[steampunkz]

Well, my opinion here is very simple, It's their money, They can do whatever they decide to do with it.  And  JP Morgan is in the industries of Bank that's against cryptocurrency features like bitcoin.

[Sithara007]

They are losing their potential profit by distancing themselves to Cryptocurrency, two big companies are now in and they are enjoying the profit, is this the unanimous decision of the whole board, they should go back to the drawing board they are missing something and they cannot go on being a hater of Cryptocurrency when obviously this is the future of investment.

It is not necessary that these companies such as Tesla are trying to profit out of their investment in cryptocurrency. They may be just trying to protect the net worth of their reserves. With the multi-trillion USD stimulus measures being proposed by the current government, it is clear that the purchasing power of US Dollar will go down. And JP Morgan, in their statement hasn't mentioned this important factor even once.

[kolesozw]

...
Does anyone get the feeling JP Morgan is inaccurate here.

JP Morgan has always been anti-crypto, and that's normal for an investment bank. Imagine how hard it will be for JP Morgan to slip the conventional fiat products and portfolios if many people start looking after crypto.

But sooner or later, all will have to accept that this is the future! Or at least to give the clients reasonable choices.

[suzanne5223]

JP Morgan was actually when they said we shouldnt expect more large firms to emulate Tesla’s Bitcoin purchase because Tesla also make purchases due to Microguy CEO advise and I don't really see it happen this year until next bullish market because most of the large firm still scared of the volatility in nature of the market but I expect them to study the market and plan to invest during next bullish
About the currency devalue, they are totally wrong and I believe they know either but they are trying to create some hype so that people won't be panic and the only thing I believe will stop the devalue from happening is CBDC, if the government didn't create it the fiat devalue can't escape.
Hydrogen, there's a typo in here "sector will naturally embrace previous metals"

[wxa7115]

Does anyone get the feeling JP Morgan is inaccurate here.

The natural scenario appears to be one where most flock to BTC and crypto in the near future. If inflation rises. Prices trend upwards. And concerns about lockdowns coupled with stimulus spending mount. Employees and the private sector will naturally embrace previous metals and BTC in an effort to insulate themselves from negative effects associated with fiat devaluation, inflation and stimulus spending.

I remember a time around 10 years ago when many europeans thought the EU would fail and euro would devalue due to concerns about greece. Many in europe bought big screen TVs and other items, to retain the value of their money, expecting the euro to crash.

I would be interested to know why JP Morgan says history would not repeat itself here.

Those financial institutions have been wrong about bitcoin forever so I will not trust a single word they say about it, because they are not expressing a real prediction about what it is more likely to happen but a wish, they are expressing what they wish it actually happens, they do not want more people to come to this market, they want people to remain with fiat currencies, but people despite the belief of many of those that think they are above everything are not dumb.

They can see that the rate money is being created by some of the most powerful countries around the world is simply unsustainable and despite their claims that they want to help the economy this is only going to help to make it worse and they are looking for alternatives, and one of those alternatives is bitcoin.

[CarnagexD]

Whether they follow Elon's bitcoin rally or not, doesn't really matter much as bitcoin will benefit either way. If they decided to follow his path and buy bitcoin too, then that's cool as that would allow bitcoin to reach greater pricepoints and a faster road to $100k journey. If they decided not to, that's cool too! Since that's one less whale to deal with that can and will heavily manipulate the market in their hands.

[just_Alice]

I guess the fact that JPMorgan doesn't want to invest in Bitcoin and doesn't expect others to do so is associated with high price volatility. Elon Musk has made a bold move investing such amount of money in BTC, and good for him, however, it doesn't mean he will win in the end. Fiat devaluation if a possibility, however, Bitcoin's volatile price is a fact. It's unlikely that many companies will do the same and risk increasing portfolio volatility, not many can handle it and survive in a constantly changing market.

I think that for now, many companies are interested in such investment but they will stand aside and just watch how it goes with Tesla. If things won't get worse and this investment will prove its value - we may expect others to join the club. At least that's how I envision this situation.

[Mahanton]

Whether they follow Elon's bitcoin rally or not, doesn't really matter much as bitcoin will benefit either way. If they decided to follow his path and buy bitcoin too, then that's cool as that would allow bitcoin to reach greater pricepoints and a faster road to $100k journey. If they decided not to, that's cool too! Since that's one less whale to deal with that can and will heavily manipulate the market in their hands.

Neither way then you are definitely right on what you had said.It doesn't matter if they wanted to get involved or consider Bitcoin out or not because
we aren't needing nor desperate to pump this market out with those whales or institutions.We do want global adoption and recognition and even if it would take time or years
then its just fine.They can do all the things they like but one things for sure is that we aren't really depending on what would be their own views even if it would
be the personal ones.

[wheelz1200]

While the crypto community expects more large firms to emulate Tesla’s Bitcoin purchase, JPMorgan’s strategists don't think it will happen.

https://cointelegraph.com/news/don-t-expect-large-firms-to-follow-tesla-s-bitcoin-move-jpmorgan-says

....



Interesting development:

Twitter looking into Bitcoin payments for employees

https://www.investing.com/news/cryptocurrency-news/twitter-looking-into-bitcoin-payments-for-employees-says-cfo-2415289

....

Does anyone get the feeling JP Morgan is inaccurate here.

The natural scenario appears to be one where most flock to BTC and crypto in the near future. If inflation rises. Prices trend upwards. And concerns about lockdowns coupled with stimulus spending mount. Employees and the private sector will naturally embrace previous metals and BTC in an effort to insulate themselves from negative effects associated with fiat devaluation, inflation and stimulus spending.

I remember a time around 10 years ago when many europeans thought the EU would fail and euro would devalue due to concerns about greece. Many in europe bought big screen TVs and other items, to retain the value of their money, expecting the euro to crash.

I would be interested to know why JP Morgan says history would not repeat itself here.

Hahahahaa, JP Morgan (Jaime Dimon) is so anti bitcoin from the beginning they have to continue down the road of denial.  What they say about crypto is completely meaningless, in fact what ever they say will happen id bet on the opposite happening.  They just pissy cause they are missing the boat.

[Sithara007]

Hahahahaa, JP Morgan (Jaime Dimon) is so anti bitcoin from the beginning they have to continue down the road of denial.  What they say about crypto is completely meaningless, in fact what ever they say will happen id bet on the opposite happening.  They just pissy cause they are missing the boat.

When Jamie Dimon called Bitcoin a "fraud" in September 2017, the exchange rate was going at $3,500 per coin. Now the price is around 1,400% higher (eventually he realized his mistake and admitted that he regretted about his statement in 2018). JP Morgan in 2019 came up with their "JPM Coin" to replace Bitcoin, but it failed miserably. So obviously they are not feeling very happy right now with the continuing Bitcoin rally.

[mannybitcoins]

Crypto taught me to be flexible. The main thing is not to stand in front of the steam locomotive, in the form of insane institutions, who a couple of years ago shouted that this market was a complete deception and a bubble.

When the head of JP Morgan spoke of firing any employees who would be involved in cryptocurrency trading.

Hop, and so quickly the opinion of these clumsy guys changed?

[oHnK]

Hahahahaa, JP Morgan (Jaime Dimon) is so anti bitcoin from the beginning they have to continue down the road of denial.  What they say about crypto is completely meaningless, in fact what ever they say will happen id bet on the opposite happening.  They just pissy cause they are missing the boat.

When Jamie Dimon called Bitcoin a "fraud" in September 2017, the exchange rate was going at $3,500 per coin. Now the price is around 1,400% higher (eventually he realized his mistake and admitted that he regretted about his statement in 2018). JP Morgan in 2019 came up with their "JPM Coin" to replace Bitcoin, but it failed miserably. So obviously they are not feeling very happy right now with the continuing Bitcoin rally.

Yes, they seem jealous of the current Bitcoin hype, it's only natural that the name is also a failed competitor.  They think their coins are attractive even though we don't think so.  Centralized coins are just like toy coins on the playground.  There is nothing interesting just like worthless numbers.  Their current statements are only the words of those who are heartbroken because it is not as successful as the price of Bitcoin which never dies.

[justdimin]

JP Morgan is a company filled with idiots. I am not even joking if I was CEO or basically running it as a whole, I would do a much much better job, and I would definitely not need a board to tell me what I can do or can't do.

This isn't a way to say that I am a great investor, because I am not, I am just a "fine" one that makes not that bad amount of return yearly, and it is a small amount anyway, no, what I am trying to say here is that most of us here can do a better job than JP Morgan executives, whoever you are reading this right now, there is at least 50% chance you are better than them. Why? Because these idiots never have a problem, they take other people's money, invest with it, if they have a problem of going bankrupt they take "cash injections" or even bail outs from central bank and continue their way, there is no money they put themselves, and there is no way they could go bankrupt so they just do whatever they want and always fail but saved by the government.

[dimonstration]

Well, my opinion here is very simple, It's their money, They can do whatever they decide to do with it.  And  JP Morgan is in the industries of Bank that's against cryptocurrency features like bitcoin.

Soon they might be the one left not using bitcoin, it's a matter who will be able to accumulate more while the price is still attainable and if they were too late it will be a sorry for them. There are more companies who will sure to foolow Elons move, it will just a matter of time before it will happen.

[keyscore44]

Well, my opinion here is very simple, It's their money, They can do whatever they decide to do with it.  And  JP Morgan is in the industries of Bank that's against cryptocurrency features like bitcoin.

Soon they might be the one left not using bitcoin, it's a matter who will be able to accumulate more while the price is still attainable and if they were too late it will be a sorry for them. There are more companies who will sure to foolow Elons move, it will just a matter of time before it will happen.

As for me, this statement is just manipulation. We all know very well that many companies pay attention to what giants like Tesla are doing. I will say more, I believe that JP Morgan himself invests in Bitcoin, and maybe also in other cryptocurrencies.
In the situation in which the financial market is now and when dollar is weakening, not to invest in cryptocurrencies is a mistake.

[bryant.coleman]

As for me, this statement is just manipulation. We all know very well that many companies pay attention to what giants like Tesla are doing. I will say more, I believe that JP Morgan himself invests in Bitcoin, and maybe also in other cryptocurrencies.
In the situation in which the financial market is now and when dollar is weakening, not to invest in cryptocurrencies is a mistake.

If everyone invest in cryptocurrency then JP Morgan and the other banking giants will lose their relevance and that is the reason why they are so opposed to the adoption of cryptocurrency by the corporates. But the corporations don't have much of a choice here. With the purchasing power of USD going down like a falling rock, it is foolish to keep all their reserves in fiat currency. If not Bitcoin, it has to be other assets that are protected against inflation such as gold and platinum.

[Dragonfund]

Well, my opinion here is very simple, It's their money, They can do whatever they decide to do with it.  And  JP Morgan is in the industries of Bank that's against cryptocurrency features like bitcoin.

If I'm in the position of JP Morgan, I will definitely act the same drama since his life has alway been about banks and benefits around him and wouldn't want people to move from banking system into cryptocurrency.
One thing is certain about the revolutionary 9f cryptocurrency, it wouldn't be force on anyone but when the time is due for people from traditional environment to come to crypto, they will definitely come here.

[Quidat]

As for me, this statement is just manipulation. We all know very well that many companies pay attention to what giants like Tesla are doing. I will say more, I believe that JP Morgan himself invests in Bitcoin, and maybe also in other cryptocurrencies.
In the situation in which the financial market is now and when dollar is weakening, not to invest in cryptocurrencies is a mistake.

If everyone invest in cryptocurrency then JP Morgan and the other banking giants will lose their relevance and that is the reason why they are so opposed to the adoption of cryptocurrency by the corporates. But the corporations don't have much of a choice here. With the purchasing power of USD going down like a falling rock, it is foolish to keep all their reserves in fiat currency. If not Bitcoin, it has to be other assets that are protected against inflation such as gold and platinum.

Would be divided since not all of them would really be going into the same path which it would be expected that there would be someone whom do consider crypto as a good option
rather than sticking into those traditional assets or currencies that they've known but this is really on unlikely side but its plausible and can really happen.We dont even know
that even they are saying negatives but actually behind they are getting involved with it just for them to protect out their reputation as a die hard traditional investor or
really goes with side on banking system which is totally opposing on crypto's existence.