Don’t expect large firms to follow Tesla’s Bitcoin move, JPMorgan says
While the crypto community expects more large firms to emulate Tesla’s Bitcoin purchase, JPMorgan’s strategists don't think it will happen. Strategists at JPMorgan Chase, one of the largest investment banks in the United States, believe that Tesla’s $1.5 billion Bitcoin (BTC) purchase will not necessarily trigger a ton of similar investments.A group of JPMorgan strategists led by Nikolaos Panigirtzoglou reportedly argued that Bitcoin’s highly volatile nature could keep mainstream corporate treasurers away from Bitcoin. “The main issue with the idea that mainstream corporate treasurers will....
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Microsoft president Brad Smith did not exclude the possibility of the company putting Bitcoin on its balance sheet one day. Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin (BTC) on its balance sheet, according to the firm’s president Brad Smith.In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment.When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion investment in Bitcoin,....
Global investment bank JPMorgan has asked its clients what they think the price of bitcoin will be by year-end. Among the bank’s clients who responded, 55% expect the price of bitcoin to end the year at $60K or higher.
What JPMorgan’s Clients Expect the Price of Bitcoin to Be by Year-End
JPMorgan has conducted a survey of its clients about what they expect the price of bitcoin to be by year-end. The global investment bank released the results earlier this week. The survey was conducted between Dec. 13 and Jan. 7 as part of a broader macroeconomic outlook for 2022.....
Altcoins offering layer-2 solutions pushed higher while profit-taking resulted in Bitcoin price pulling back to the $45,000 level. On Feb. 10, Bitcoin (BTC) price pulled back 5% from its newly established $48,220 high and a number of altcoins also underwent slight corrections. Data from Cointelegraph Markets and TradingView shows Bitcoin has declined 4.96% since yesterday’s highs and currently trades at $44,900. The pullback to the $45,000 level could simply be the result of traders taking recent profits from Bitcoin and altcoins as the rally appeared to be losing momentum around the....
Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients. JPMorgan Now Offers Access to Crypto Funds JPMorgan has given its financial advisors the green light to give all its clients access to cryptocurrency funds, the Insider reported Thursday, citing people directly familiar with the matter. This move....
Other payment companies will also likely follow in Square's footsteps or risk getting shut out of a growing segment, JPMorgan wrote.