Has JPMorgan Become Bitcoin’s Best Friend?
A recent note from JPMorgan Chase suggested the bank realizes that bitcoin isn’t going anywhere. But what do the rent seekers really think?There was a lot of fanfare made recently over an investment note from JPMorgan Chase which seemed to elevate bitcoin over real estate and other traditional asset classes as the “alternative asset of choice.”A May 25 investor note made the argument that bitcoin was around 28% undervalued and that the bank was targeting an upside price of around $38,000 per coin, in effect making an argument for bitcoin’s recent price weakness being overdone relative to....
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Bitcoin’s blue-chip coverage just turned decisively bullish. Within hours of each other on October 2, JPMorgan and Citi outlined upside paths that put six-figure levels squarely on the 12-month horizon, framing the next phase of the cycle around volatility normalization versus gold and sustained institutional demand. New 12-Month Bitcoin Calls From Citi And JPMorgan JPMorgan […]
JPMorgan’s chairman of investment strategy, Michael Cembalest, is wary of bitcoin and other cryptocurrencies. The JPMorgan strategist stated in a column published Feb. 3 that his comments were his own and not those of JPMorgan Chase. JPMorgan Strategist Raises Issues With Crypto Market While much of the United States recovers from last week’s terrible winter […]
JPMorgan has released a report on the futures and derivatives market around bitcoin, providing insight and bullish sentiment.
Bitcoin just got a surprising nod – from Jamie Dimon of all people. That’s right, the CEO of JPMorgan, one of Bitcoin’s loudest critics over the years, now says his bank will allow clients to buy the cryptocurrency. While JPM won’t hold the coins itself, it’s still a huge symbolic shift. If the biggest Bitcoin […]
JPMorgan has offered its view on the bitcoinization of El Salvador, the country which recently made bitcoin legal tender alongside the U.S. dollar. JPMorgan says, “It is difficult to see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” JPMorgan on the Bitcoinization of El Salvador JPMorgan & Chase’s Latin American research team published a report titled “The Bitcoinization of El Salvador” Thursday. El Salvador recently passed legislation making bitcoin legal tender alongside the U.S. dollar. The JPMorgan....