JP Morgan Says Bitcoin And Cryptocurrencies Are Now Alternative Investments
2022-05-27 18:30:31
What Are The Predictions Of The Duration Of The Current Bear Market?
The global giant Bank, JP Morgan, says bitcoin is undervalued by 28%. J.P. Morgan became the first global bank to design a network to facilitate instantaneous payments using blockchain technology in 2019 enabling 24/7, business-to-business money movement by unveiling JPM Coin. According to the official website of the bank, JPM Coin's mission is to address the complex challenges of cross-border payments and help simplify its clients’ money-moving needs through next-generation corporate treasury services.
On the Gate.io exchange, the Bitcoin price live is $28,819.66, and the world's number one cryptocurrency is down by 2.36% in the last 24 hours as of the time of writing. Bitcoin has maintained its rank as the number one cryptocurrency since its inception and has proven to be a great store of value over the years. You can buy, sell, trade, and hold bitcoin using the Gate.io exchange, a top 10 cryptocurrency exchange platform. As Bitcoin is down, other cryptocurrencies have followed the same path due to the current bearish trend. BTC has different trading pairs on the Gate.io exchange platform.
In 2017, the head of the JP Morgan bank, Jamie Dimon, said he was skeptical regarding bitcoin and cryptocurrencies. During the Delivery Alpha conference, he said that cryptocurrency is a fraud and that if any of the JP Morgan traders trade bitcoin, it is against their rules. He also noted that it will be regulated by the government just like other financial institutions regulated by the government. Bitcoin was less than $5,000 when he made those statements.
However, later on, he said he regretted what he said and in 2021, the bank became the first bank to give retail clients access to bitcoin exposure. So since the clients want investment in Bitcoin and digital assets, the bank has to provide the service for them. The bank had to provide six crypto investment funds to its clients despite the anti-bitcoin stance of the CEO.
On Wednesday, the bank issued a note to clients stating that it is replacing real estate with digital, or cryptocurrency assets as its preferred alternative class. Alternative assets usually refer to assets that are not stock, bond, or cash. JP Morgan said they believe bitcoin will bounce back after this current bearish market and that $38,000 is a fair price for bitcoin. So digital assets are the preferred alternative to real estate.
The current bearish market has been going on for a few weeks now and investors can do their own market research to know which token they should invest in on the Gate.io exchange, as we await the bull cycle.
The global giant Bank, JP Morgan, says bitcoin is undervalued by 28%. J.P. Morgan became the first global bank to design a network to facilitate instantaneous payments using blockchain technology in 2019 enabling 24/7, business-to-business money movement by unveiling JPM Coin. According to the official website of the bank, JPM Coin's mission is to address the complex challenges of cross-border payments and help simplify its clients’ money-moving needs through next-generation corporate treasury services.
On the Gate.io exchange, the Bitcoin price live is $28,819.66, and the world's number one cryptocurrency is down by 2.36% in the last 24 hours as of the time of writing. Bitcoin has maintained its rank as the number one cryptocurrency since its inception and has proven to be a great store of value over the years. You can buy, sell, trade, and hold bitcoin using the Gate.io exchange, a top 10 cryptocurrency exchange platform. As Bitcoin is down, other cryptocurrencies have followed the same path due to the current bearish trend. BTC has different trading pairs on the Gate.io exchange platform.
Replacing Real Estate With Digital Assets
In 2017, the head of the JP Morgan bank, Jamie Dimon, said he was skeptical regarding bitcoin and cryptocurrencies. During the Delivery Alpha conference, he said that cryptocurrency is a fraud and that if any of the JP Morgan traders trade bitcoin, it is against their rules. He also noted that it will be regulated by the government just like other financial institutions regulated by the government. Bitcoin was less than $5,000 when he made those statements.
However, later on, he said he regretted what he said and in 2021, the bank became the first bank to give retail clients access to bitcoin exposure. So since the clients want investment in Bitcoin and digital assets, the bank has to provide the service for them. The bank had to provide six crypto investment funds to its clients despite the anti-bitcoin stance of the CEO.
On Wednesday, the bank issued a note to clients stating that it is replacing real estate with digital, or cryptocurrency assets as its preferred alternative class. Alternative assets usually refer to assets that are not stock, bond, or cash. JP Morgan said they believe bitcoin will bounce back after this current bearish market and that $38,000 is a fair price for bitcoin. So digital assets are the preferred alternative to real estate.
The current bearish market has been going on for a few weeks now and investors can do their own market research to know which token they should invest in on the Gate.io exchange, as we await the bull cycle.
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