Yugocean
Valued Contributor
American banking giant JPMorgan was harsh critic of Bitcoin and other cryptocurrencies, but according to reports by Market Insider and Forbes, that is no longer the case, as the bank officially supports BTC.
JPMorgan CEO Jamie Dimon has expressed his dislike for Bitcoin on several occasions; for example, when Bitcoin rose from 1.1k to nearly 20k in value in 2017, Dimon called it a "fraud," and when Bitcoin rose to nearly 68k in October 2021, Dimon called it "worthless"; however, since April 2022, he accepted that DeFi and blockchain are real, he has changed his mind.
Despite the fact that Bitcoin is still in the red and having a difficult time in the market, JPMorgan in a note published on Wednesday, May 25, has stated that it is replacing its alternative assets of real estate with digital assets.
Some may consider this a miracle, given that the same people who criticised BTC and crypto when the market was bullish are now supporting it when the market is bearish.
JPMorgan CEO Jamie Dimon has expressed his dislike for Bitcoin on several occasions; for example, when Bitcoin rose from 1.1k to nearly 20k in value in 2017, Dimon called it a "fraud," and when Bitcoin rose to nearly 68k in October 2021, Dimon called it "worthless"; however, since April 2022, he accepted that DeFi and blockchain are real, he has changed his mind.
Despite the fact that Bitcoin is still in the red and having a difficult time in the market, JPMorgan in a note published on Wednesday, May 25, has stated that it is replacing its alternative assets of real estate with digital assets.
Some may consider this a miracle, given that the same people who criticised BTC and crypto when the market was bullish are now supporting it when the market is bearish.
