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JPMorgan. Please make your final decision on Bitcoin!

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JPMorgan has changed its position on Bitcoin.

It might become a new type of gold. 

Less than a month ago Jamie Dimon, the CEO of JPMorgan, called Bitcoin a "fraud", and now the company has a different position on the cryptocurrency. Analysts at JPMorgan believe that Bitcoin has changed its shape and that it could soon be joining gold as a reliable, long-term way to store wealth. Recent growth and recent changes have seen Bitcoin lean more towards being digital gold, and this is where JPMorgan see its value.


During the last month, many analysts and investors were criticizing JPMorgan for unfounded accusations of Bitcoin. Recently, the company itself has been charged for $4 billion for fraud. Following that, Dimon, breaking the promise not to talk about Bitcoin, described it as a tool for money-laundering. Ironically, The Swiss Financial Market Supervisory Authority (FINMA) exposed JPMorgan in money laundering. 

A few days ago, Nikolaos Panigirtzoglu, an analyst from JPMorgan, made a statement saying that Bitcoin has a great chance of becoming the new type of an asset, especially considering that CBOE and CME are planning to introduce Bitcoin futures.

Panigirtzoglou said:

"The prospective launch of Bitcoin futures contracts by established exchanges, in particular, has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors."

Last but not the least important thing. The combined market capitalization of all digital currencies reached an all-time high of more than $404 billion, according to Coinmarketcap data. Their market value overtook that of JPMorgan, which is currently at $366.8 billion.

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Comments 1

Rebel - Man on Thursday, 07 December 2017 15:26

So bitcoin's benefits earlier are now its disadvantages then it will get a lot better if it is regulated by JP Morgan. You can not keep the cake and eat it at the same time.
I just started this summer when bitcoin was 4000$ each, now i look at 16000$ for each bitcoin. everything bad you hear about bitcoin has been done with Dollars too!
This is the reason why i didnt start earlier with bitcoin, because i listened to the noise from the sideline that kept me away from it. Inform yourself about bitcoin and dont miss the biggest oportunity in your lifetime.

So bitcoin's benefits earlier are now its disadvantages then it will get a lot better if it is regulated by JP Morgan. You can not keep the cake and eat it at the same time. I just started this summer when bitcoin was 4000$ each, now i look at 16000$ for each bitcoin. everything bad you hear about bitcoin has been done with Dollars too! This is the reason why i didnt start earlier with bitcoin, because i listened to the noise from the sideline that kept me away from it. Inform yourself about bitcoin and dont miss the biggest oportunity in your lifetime.
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