Summing Up The JP Morgan Report On Bitcoin In El Salvador
It’s been only a couple of days since Bitcoin was declared legal tender in El Salvador. The decision has been controversial. Most of the crypto community has shown support for the new law, but traditional media and financial institutions haven’t been equally receptive. Banking giant J.P. Morgan commented on the “Bitcoinization of El Salvador” in […]
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JP Morgan says that El Salvador's decision to adopt Bitcoin as legal tender is of little economic benefit. JPMorgan is the latest source to respond to El Salvador’s decision to adopt Bitcoin (BTC) as legal currency within the country.In a client note tweeted by @DocumentingBTC, the United States banking giant stated that there was little economic benefit to El Salvador adopting BTC as a parallel legal tender to the U.S. dollar.JP Morgan on El Salvador adopting #Bitcoin Notice the last line... pic.twitter.com/5hl0kR9WB0— Documenting Bitcoin (@DocumentingBTC) June 11, 2021 On Thursday, El....