JPMorgan presents to private clients that Bitcoin can reach $540,000 if compared

[ConnerDalfino]

It's too much of a coincidence that these banks are suddenly seriously researching Bitcoin all at once.

I'm convinced the Citibank report last week is an investment thesis.

Some bank is going to buy Bitcoin soon, not just custody it, straight up pull a TSLA and convert some of their balance sheets to BTC.

What do you think?

[cryptomaniac_xxx]

I'm just adding the links for clarity:

https://www.theblockcrypto.com/linked/94750/jpmorgan-bitcoin-btc-trading-client-demand-coo-comments

In a slide entitled "How others are valuing crypto?" the bank broke down three commonly used metrics taken by market participants that "suggest significant upside [of bitcoin] is possible."

Under the so-called Metcalfe's law, which suggests the value of a network is proportional to the square of the number of users, bitcoin's per-coin valuation would be at $21,667.

If comparing the current global value of gold to bitcoin by using the 21 million max supply of bitcoin, then bitcoin's valuation would be at $540,814. Finally, if applying the global value of money supply to the max supply of bitcoin, its value would be $1.9 million.

I will say that the pandoras box is now open, MicroStrategy, Tesla and many others are involving themselves in BTC.  What JPMorgan suggests to their clients is no longer a secret, it's inevitable, sooner or later adoption will grow. Or bitcoin will be the asset that they are going to hold on their balance sheet.

[newwest]

JPM Morgan's CEO once said that bitcoin is bubble and the same company is now predicting the price to be like 10x from the current prices. Good to see how the bitcoin is breaking the notions these billionaires once had and now changing their own view about the same bitcoin in current scenario. Things are changing for good now.

[virasog]

It's too much of a coincidence that these banks are suddenly seriously researching Bitcoin all at once.

This is not a coincidence. The banks need to realize the importance of bitcoin else they will left behind. Those banks who will incorporate bitcoin will have an added advantage and they will gain more customers as compare to the other banks. The world financial system is changing rapidly and everyone needs to realize the importance of digital currency.

[dothebeats]

Sounds like that's what's going to happen given how serious they are in knowing the possibilities of bitcoin's price. They wouldn't do these researches and presentations for naught, and could actually be mind conditioning for the public before they announce that they already bought bitcoins.

Given how diverse and successful JP Morgan & Chase balance sheets and investments are, researching bitcoin instead gives them nothing but wasted time if they don't actually intend to buy anything. It's coming, and they're intensely checking all sides and fronts of the asset.

[Coin_trader]

It's too much of a coincidence that these banks are suddenly seriously researching Bitcoin all at once.

I'm convinced the Citibank report last week is an investment thesis.

Some bank is going to buy Bitcoin soon, not just custody it, straight up pull a TSLA and convert some of their balance sheets to BTC.

What do you think?

There are some rumor that whales are using big company to hype the price more so that they can take more profit when they dump. I smell somethings shady that some of the big company that boldly opposing Bitcoin are now supporting while the current price is on the brink of mass correction. This might be a tactic to bull trap small time investors.

Banks should enter position during the early stage if they are really willing to invest.

[20kevin20]

They've been seriously researching BTC for a long time. Years, actually. They likely found something that is highly in their advantage, shared the info all around the banking industry/Elites and now they "want" to join us. Either that, or BTC's market cap became a big threat to them.

[Karartma1]

The Bitcoin market is now floating on a very subtle psychological level and those who master the rules of the protocol know quite well that there will be one point in which there will be a breaking point caused by an inevitable supply shock.
The more big names enter the game the more bitcoin will be put on a long term hodl mode.
If you hold bitcoin, consider them very precious! These sharks want us small ones to give up our coins.
Don't play this game against them, keep stacking sats.

[Dutchyyy]

The interest from financial institutions is really getting bigger and more focused this year - compared to the huge interest from retail investors in just about the last ten years.

Analysts say Bitcoin is likely to be used in international trade if central banks start issuing their own cryptocurrencies or stable coins.

In this case, the global acceptance of Bitcoin and the potential for fast cross-border payments for trade can increase significantly.

[Lucius]

In its reviews of the possible price of BTC, JPM mostly uses gold as something to compare with - but although it makes some sense because both asset are a store of value, the differences between them are more than clearly visible. Gold has a virtually unlimited supply on our planet, and in the future it will be exploited from other planets/asteroids + the mobility of gold in the sense that it can be used for transactions is incomparable to what Bitcoin allows, with of course the already well-known fact that it has a max supply.

If we just look back 2 months, JPM has given the following consideration to the possible price of BTC ->

In a note published Monday, JPMorgan made a bold long-term price target for bitcoin, claiming the red-hot cryptocurrency could rally as high as $146,000 as it competes with gold as an “alternative” currency.

They're just playing with numbers, but it shouldn't be overlooked that JPM is the largest investment bank in the US with more than $3 trillion under its control, and also one of the largest banks in the world - their interest in Bitcoin only tells us that they consider BTC a serious player in the financial market.

[Kakmakr]

These guys are contradicting what they say every day ....See this : https://bitcointalk.org/index.php?topic=5316287.msg56479609#msg56479609  ... I honestly think they are manipulating the market and the statements are being published in the media to trigger specifics reactions in the market. 

One moment they are bullish and the next day they are bashing Bitcoin and being negative. This is not normal behavior and very suspicious to say the least. 

[orions.belt19]

These guys are contradicting what they say every day ....See this : https://bitcointalk.org/index.php?topic=5316287.msg56479609#msg56479609  ... I honestly think they are manipulating the market and the statements are being published in the media to trigger specifics reactions in the market. 

One moment they are bullish and the next day they are bashing Bitcoin and being negative. This is not normal behavior and very suspicious to say the least. 

That’s true, their contradictions are even becoming laughable for me as they have been throwing statements here and there its come to a point that I don’t even bother on reading what they say. Even if they attempt in manipulating the market, I believe they fail to do so as their statements have no effects on the market anymore. They’ve been saying things about crypto for quite some time now so anything they say else won’t be any new to me. If ever they do invest then they should just do it instead of commenting on Bitcoin then taking it back every time the price goes down.

[buwaytress]

The banking research didn't just suddenly happen, they've been looking into it for at least since 2016 (when I personally insist institutionals first seriously began considering Bitcoin as part of a hedge portfolio, because that's when my freelance work started getting enquiries from people you normally don't hear from in the space).

But with alternatives shrinking in returns, and now that 2020 figures are going to show up in director inboxes, they'll be asking and demanding more and more about if Bitcoin is viable (it is).

[Karartma1]

Don't be surprised too much and remember these people have clear agendas that move their actions. They are like the politicians as they can say one things at night and then stating the exact very opposite the next day.
Don't care too find any consistency in their claims, because there is none.
Bitcoin is not his cup of tea as per Jamie Dimon's words
https://www.coindesk.com/jamie-dimon-bitcoin-blockchain-dealbook-event

[AmoreJaz]

Don't be surprised too much and remember these people have clear agendas that move their actions. They are like the politicians as they can say one things at night and then stating the exact very opposite the next day.
Don't care too find any consistency in their claims, because there is none.
Bitcoin is not his cup of tea as per Jamie Dimon's words
https://www.coindesk.com/jamie-dimon-bitcoin-blockchain-dealbook-event

not surprising that JPMorgan is now on the side of bitcoin. just recently, they said companies will not follow Tesla's move to crypto. and now, they are enticing their clients about the possible valuation of bitcoin in the future.
i do agree with you, saying they are like politicians now. lol they go, where the potential money is. even if their statements is a slap on their face.

[target]

It's too much of a coincidence that these banks are suddenly seriously researching Bitcoin all at once.

I'm convinced the Citibank report last week is an investment thesis.

Some bank is going to buy Bitcoin soon, not just custody it, straight up pull a TSLA and convert some of their balance sheets to BTC.

What do you think?

There are some rumor that whales are using big company to hype the price more so that they can take more profit when they dump. I smell somethings shady that some of the big company that boldly opposing Bitcoin are now supporting while the current price is on the brink of mass correction. This might be a tactic to bull trap small time investors.

Banks should enter position during the early stage if they are really willing to invest.

LOL In that case, let us just wait till they really published it on their website. Somehow there is a grain of doubt on my part that whales could actually hire someone to write articles and publish them on crypto news articles. It's been an old technique that even an ICO  team can do.

CitiBank though had already published on their website about Bitcoin at its tipping point. I'm not however an expert to verify if this article and website are indeed owned by Citi. https://www.citivelocity.com/citigps/bitcoin/

JPmorgan should realize that $540,000 is too much hyping.

[kryptqnick]

In a way, they might be realizing their mistakes, but it can also a purely profit-oriented decision. They didn't like Bitcoin because banks like to deal with something they can control in some ways, and they cannot control Bitcoin. But then they realized they've missed out on a big opportunity of getting more money as Bitcoin grew from $10k to $50k in a few months, so they're getting greedy and don't want to make the same mistake again. And, of course, they want their clients to be happy because that's also essential for their profits, so they understand they must meet the demand or the clients will just go elsewhere.