Still, the president of the US bank maintained his aversion posture to digital assets-including comparing Bitcoin to the right of smoking people. (Image: Disclosure)
Jamie Dimon, CEO of JP Morganknown for its skepticism in relation to cryptocurrencyannounced on Monday (19) that JP Morgan customers are now allowed to buy Bitcoin (BTC). The speeches were held during a meeting with shareholders.
Still, the president of the US bank maintained his aversion stance digital asset – Even comparing Bitcoin to the right of smoking people.
With this, the decision to offer Bitcoin on the JP Morgan platform aligns the bank with other institutions, such as the Morgan Stanleywhich already offer index funds (ETFSin Bitcoin) in sight for qualified customers through their consultants.
The announcement also represents a dimon step towards a more conciliatory posture with the crypto market.
And bets on bitcoin (BTC) don’t stop there
In addition to the new posture of the bank’s CEO, JP Morgan also predicted a strong increase in the price of Bitcoin. The institution believes that cryptocurrency will perform better than the gold in 2025.
“Between mid-February and mid-April, gold rose at Bitcoin’s expense, while in the last three weeks we have observed the opposite, that is, this cryptocurrency rising at the expense of gold,” wrote analysts of JP Morgan, led by managing director Nikolaos Panigirtzoglou, in a report obtained by Decrypt.
Up to this 2025 point, precious metal accumulates high over 30%, while Bitcoin advances about 12% in the year.
Despite not making a specific price projection, analysts understand that recent appetite for cryptocurrency derivatives – that is, future contracts and other applications – tends to increase demand for BTC, which is reflected in prices.
Recent Purchase of Derebit by Coinbase It is an example of this derivative appetite in the cryptocurrency business.
Although optimism is on the rise, it is worth noting that the digital and cryptocurrency active market is highly volatile and the investor should maintain a responsible portion of their resources in such products.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
