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

[Renampun]

*so JP Morgan is currently an advisor to many large corporate companies lmao...
companies of course think about profits and gold currently does not provide big and fast profits like Bitcoin. if those big companies want to survive for the next few decades then they have to invest in Bitcoin. otherwise, they will just be left behind.

[Twentyonepaylots]

I guess I can't really refute what JP Morgan says because I do not have the power to see the future, maybe all the major companies will get in or maybe none of them will, I really do not know whats going to happen. However I also think, even with all those experts and analysts, they do not know who will get in or not neither, these are personal preferences (well company preferences) and they may not say it out loud but they might be thinking about it or talking about it or trying to find how to do it etc etc.

Moreover, I do not like to talk in absolutes, only siths deal in absolutes, I think this is going to be more like some majors go in and many don't and just spread it around, nothing major for us because we already have wall street on our side now, but still a few more will probably come while many many more will come at a later date.

JP Morgan is a talented scammer, so I suggest you take all his claims and predictions with a grain of salt. One of the biggest critics of bitcoin known to man, he stops at nothing to shit on bitcoin.

Now on the case of his claim regarding corporations following Elon's move, I couldn't care less if they do or if they don't lmao. We got all the help we need, and frankly enough, it's going to be much more optimal to us small-time investors if there will be lesser whales in the market who can manipulate the price at will, so in retrospect this is actually a good thing if ever.

[aoluain]

*so JP Morgan is currently an advisor to many large corporate companies lmao...
companies of course think about profits and gold currently does not provide big and fast profits like Bitcoin. if those big companies want to survive for the next few decades then they have to invest in Bitcoin. otherwise, they will just be left behind.

Big investors should be worried about the dilution of their cash reserves because of
central banks printing of cash. If they are not worried now they certainly will be medium to long term.

Moving wealth into Bitcoin is not primarily about generating profit its more
about preserving the value.

It might take a few more months but the longer this pandemic lasts the more
fiscal stimulus will be needed which means more cash printed which increases
inflation and the devaluing of FIAT.

Why would any savvy investor stand by and watch thus happen?

How many customers of JP Morgan will be asking them,
"are you investing any of my money in Bitcoin?'
and
'why not?'

[shield132]

I don't really care about what he says, what will happen matters the most!!!
More firms will follow Tesla's bitcoin move.

After every halving, price increases dramatically, more and more companies are turning into bitcoin related business. Exchanges make enormous profits (remember how much Binance paid for coinmarketcap), PayPal entered into the market, visa/mastercard is going to enter the market, there will be a huge fight between current crypto exchanges and giant, powerful payment service providers, Elon Musk's word has the huge influence on people's decision and he tested it multiple times, on every test, it was even more intense and powerful. Tesla moved money into Bitcoins, etc... And after that, what do you think, large firms won't follow those steps? It's even beneficial for them to follow it, this will cause a massive sensation and will have an enormously positive effect on bitcoin and on them too.

[paxmao]

JP Morgan will say that they do not recommend X until they are the owner of 5% of the X in the world, and then they will say X is supercool. Why do we bother to listen to investment banker´s recommendations?

[AndySt]

JP Morgan will say that they do not recommend X until they are the owner of 5% of the X in the world, and then they will say X is supercool. Why do we bother to listen to investment banker´s recommendations?

Because most people tend to be guided by someone's authoritative opinion and for someone the opinion of JP Morgan is exactly this authoritative opinion In this crazy world in which one part of the people listens to the tweets of one representative of the car company, why not exist the followers of another company  But seriously, the most important opinion should be your own opinion, because your wallet will be personally responsible for the consequences.

[molsewid]

It is their decision not to follow Tesla. they know more in terms of money, financial, accounts and all related to money, maybe they are afraid because of the volatility of this market, of course why do they need to follow Tesla if they have their own mind and plans? banks has a 50-50 possibility to adapt crypto, some of them already want to buy bitcoin like that one in Miami some of them still don't want to be part of this revolution like JP Morgan, sooner or later they will realize that thing, bitcoin is good for their banks maybe they are just waiting for the perfect time to accumulate more.

[Sithara007]

JP Morgan will say that they do not recommend X until they are the owner of 5% of the X in the world, and then they will say X is supercool. Why do we bother to listen to investment banker´s recommendations?

JP Morgan is no different from the other banking cartels and they want everyone to remain under their control. Bitcoin allows the common people to transact and store wealth on their own, and this affects people like the JP Morgan executives negatively. JP Morgan had previously made a few predictions about Bitcoin. Back in 2017, Jamie Dimon (the Chief Executive Officer of JPMorgan Chase) claimed that cryptocurrency was a fraud, and it will be crushed by the global governments soon. And less than two years later, JPM came up with their own cryptocurrency, called JPM Coin (which obviously was a failure).

[oHnK]

JP Morgan will say that they do not recommend X until they are the owner of 5% of the X in the world, and then they will say X is supercool. Why do we bother to listen to investment banker´s recommendations?

JP Morgan is no different from the other banking cartels and they want everyone to remain under their control. Bitcoin allows the common people to transact and store wealth on their own, and this affects people like the JP Morgan executives negatively. JP Morgan had previously made a few predictions about Bitcoin. Back in 2017, Jamie Dimon (the Chief Executive Officer of JPMorgan Chase) claimed that cryptocurrency was a fraud, and it will be crushed by the global governments soon. And less than two years later, JPM came up with their own cryptocurrency, called JPM Coin (which obviously was a failure).

Yes, it is very clear their way of thinking with their ever-changing statements.  Whatever the statement will always want their own benefit.  Their track record is so long and has many cases to make me always sure, the mindset of a banker will always be "the mindset is only about profits".  They just don't want to feel disadvantaged by FOMO.  Because in recent days, BTC has reached its highest price in history.

[magneto]

Does anyone get the feeling JP Morgan is inaccurate here.

100%.

Proprietary trading activity for bitcoin has ballooned over the past few years from an institutional perspective. Companies are using cheap funding to access BTC cash products and derivatives left right and centre.

This trend isn't going to stop now. Tesla jumping on with Musk is simply going to give reassurance to other companies on the edge, and not discourage them.

With this low interest rate environment and rounds of global central bank stimulus, JPMorgan will be proven erroneous in this evaluation imho.

[LogitechMouse]

JP Morgan Chase is a bank. Aren't we expecting statements like this coming from the banks like them who are against Bitcoin since the start of it.
I still remember Jamie Dimon saying that Bitcoin is a fraud last 2017. Now he is continuing to say negative things about it again this year.

Let him bark and let him say what he want to say in the end we are in a free to say anything. I don't really care about what he is saying and I don't expect this to happen too that large firms will not follow what Tesla did. It will create a domino effect for sure especially when they see Bitcoin's price go higher .

[fillippone]

JP Morgan.
They have a plan, but don’t expect to read it on the news:
News from Bloomberg:

JPMorgan’s Pinto Says Client Demand Isn’t There Yet on Bitcoin

JPMorgan Chase & Co. Co-President Daniel Pinto said that client demand isn’t there yet on Bitcoin, but he’s certain that’ll change at some point.

News from The Block:

JPMorgan will offer bitcoin trading if there is client demand, says COO

"If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved," Pinto told CNBC in an interview published Friday. "The demand isn't there yet, but I'm sure it will be at some point."

Clearly they have a plan, like every other major global bank out there. Provide their clients with basic services, in order to bootstrap a “crypto currencies banking ecosystem” where the bank can sick fees from clients into their pockets.

[dothebeats]

JP Morgan strikes again.

I remember them being pretty hostile towards bitcoin a few years back, calling it a fraud investment and all that kinds of stuff. But fast forward, 2020, their hearts kinda softened to bitcoin and started making good remarks about the cryptocurrency. Now, they're back with trying to warn other companies into not buying in to bitcoin due to the volatility it offers. I really believe that no one will ever believe into these 'chief strategists' because what they are proposing isn't really sound.

Their influence over the markets--especially in crypto--is no longer that recognized and all-powerful like it used to be. They could be 100% wrong in here and I wouldn't be surprised.

[SquallLeonhart]

JP Morgan Chase is a bank. Aren't we expecting statements like this coming from the banks like them who are against Bitcoin since the start of it.
I still remember Jamie Dimon saying that Bitcoin is a fraud last 2017. Now he is continuing to say negative things about it again this year.

Let him bark and let him say what he want to say in the end we are in a free to say anything. I don't really care about what he is saying and I don't expect this to happen too that large firms will not follow what Tesla did. It will create a domino effect for sure especially when they see Bitcoin's price go higher .

Of course they will but you have to accept that bitcoin is not in favor of banks neither, so why should banks like crypto when the whole purpose of it was to destroy banks? Would you like your murderer? Would you say "oh my murderer will kill me but he is a great person"?

Of course not, Bitcoin is here to destroy JP Morgan if it can, doubt that it would succeed but at least that is the aim, and considering we are moving away from banks and into crypto and instead of investing with banks we invest into bitcoin, it shows that we are hurting them for sure, and the whole world hates them too, we have seen what WSB showed the world, rightist, leftist, centrist, american, Canadian, European doesn't matter, rich people are very few whereas poor people are in billions so those banks are hated from all around the world hence why those banks hate bitcoin.

[fillippone]

Of course they will but you have to accept that bitcoin is not in favor of banks neither, so why should banks like crypto when the whole purpose of it was to destroy banks? Would you like your murderer? Would you say "oh my murderer will kill me but he is a great person"?

Of course not, Bitcoin is here to destroy JP Morgan if it can
<...>

Strongly disagree with that.

Bitcoin is not here to destroy banks. It is here to destroy the FIAT banking system, i.e. central banks creating money out of the blue, at the only switch of a printer (a blip on their pc, actually).

Banks can thrive in a digital-gold standard, as the medieval banks in Genoa and Florence thrived during the first stages of the gold standard, during the Renaissance).

[pixie85]

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.

[Mauser]

JP Morgan strikes again.

I remember them being pretty hostile towards bitcoin a few years back, calling it a fraud investment and all that kinds of stuff. But fast forward, 2020, their hearts kinda softened to bitcoin and started making good remarks about the cryptocurrency. Now, they're back with trying to warn other companies into not buying in to bitcoin due to the volatility it offers. I really believe that no one will ever believe into these 'chief strategists' because what they are proposing isn't really sound.

Their influence over the markets--especially in crypto--is no longer that recognized and all-powerful like it used to be. They could be 100% wrong in here and I wouldn't be surprised.

Yeah JP Morgan is not the biggest name in the crypto world. Even though it's among the biggest banks in the world, in my opinion most people actively trading bitcoins probably go for other analyst recommendations. I think the target group of JP Morgan is more for institutional investors and bigger family offices, rather than the smaller crypto investors. While we like to invest a lot of money in cryptos for the institutional investors the part of the portfolio shifted into cryptos is farily small compared to stocks or bonds.

[Rengga Jati]

His thought maybe not false, moreover many big companies probably will not take the risk on something that is highly volatile, except the companies that really trust Bitcoin, have many free funds to invest in, and also set a specific target.
Sometimes, it seems impossible and may not happen. Like we also don't think that Tesla will also invest in BTC. We will also not know what happens next, if the uptrend of BTC will be good like this and many more good news spread, why not?
JP Morgan may only see from one side but sometimes one thing big comes from another side. ]Just wait for the progress whether e many more companies or not join in this BTC party.

[Oilacris]

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?

[Vod]

Does anyone get the feeling JP Morgan is inaccurate here.

Not me.  Elon is a futurist - investing 1.5 billion is nothing to him.

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

They are saying history will repeat itself.    1929 all over again.  :/