JPMorgan:
From crypto skeptic to joining the metaverse
A 𧡠on their journey
From crypto skeptic to joining the metaverse
A 𧡠on their journey
1/ Jamie Dimon, CEO of JP Morgan on crypto:
2014: Bitcoin is a terrible store of value
2015: Bitcoin will not survive
2016: Bitcoin is going nowhere
2014: Bitcoin is a terrible store of value
2015: Bitcoin will not survive
2016: Bitcoin is going nowhere
2/ In 2017, Dimon said that crypto βwonβt end well,β calling it a fraud.
Additionally, he added that he would fire employees who trade #Bitcoin
Additionally, he added that he would fire employees who trade #Bitcoin
3/ However in 2019, JPMorgan begins its crypto journey with its own crypto
They unveiled the JPM Coin enabling 24/7, business-to-business money movement
They unveiled the JPM Coin enabling 24/7, business-to-business money movement
4/ In 2020, JPMorgan extends banking services to #Bitcoin exchanges and creates its blockchain unit
5/ In Feb 2021, JPMorgan stated that #Bitcoin could make 1% of investors' portfolio.
In June, JPMorgan expresses interest in giving all wealth management clients access to crypto funds through its advisors.
In June, JPMorgan expresses interest in giving all wealth management clients access to crypto funds through its advisors.
6/ In January of 2022, JPMorgan's report compares Bitcoin to Gold
It stated Bitcoin possesses 6 advantages and 2 disadvantages over gold
It stated Bitcoin possesses 6 advantages and 2 disadvantages over gold
7/ In Feb 2022, it releases a report stating that NFTs will likely dominate the digital asset space
It also stated that Bitcoin's fair value was $38k but that it could reach $150k
It also stated that Bitcoin's fair value was $38k but that it could reach $150k
8/ On the same month, JPMorgan becomes the first bank to join the metaverse with a virtual Decentraland lounge
9/ However, its CEO still remains a bit skeptical of crypto saying that they aren't real currencies
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