Jamie Dimon(CEO of J.P. Morgan) said a couple of months ago that Bitcoin and cryptocurrency was a "fraud". He later apologized for his incorrect assessment, and now just weeks later, his very own bank is admitting that cryptocurrency is a direct threat to their business model.
This is a huge change considering what their stance was just a few short weeks ago, and J.P. Morgan isn't the only bank to admit that cryptos are a threat. Bank of America also released similar statements just a couple of days ago.
It seems like the mainstream media was in full denial when it came to Bitcoin and other cryptocurrencies. I feel as if the media worked together with some big government to try to crash the market, but it didn't work as well as they had thought it would. Now, it seems as if the mainstream media and big banks are starting to accept the fact that crypto is here and here to stay.
A Goldman Sach's backed start up(Circle) just purchased Poloniex, and many critics of crypto are starting to learn about the underlying technology behind them and changing their minds.
I think that this year and the next few years will be huge for crypto, and I think that it is about time for cryptocurrency to truly start breaking into the mainstream. I am not sure of everything that will happen to get it there, but I think that it is inevitable.
To the moon,
I totally agree friend, at first the cryptocurrencies, used to be only a commercial hypothesis that the most important merchants of the world rejected, but now it is that this cryptocurrency is starting to grow, I think it is time to invest, as it will come a moment when this electronic currency will cost a lot of money.
''a person with a new idea is a crank until the idea succeeds'' a phrase of mark twain that can be applied to the case of the cryptos and what it says now jp morgan
Yes crypto is effecting jp morgon.
If Crypto continues to see more positive news like this in the general media, we can only see Crypto coins going from strength to strength.
I think that the banks and other financial institutions will follow the “if you can’t beat them, join them” dogma as it will ultimately lead to a win/win scenario as adoption increases. The efficiencies gained in their traditional processes should outweigh the impact to their business model.
Jp morgan will be left with no money in the end he is going to end badly
Just jp things hopefully now no more bad words will be exchanged against crypto
crypto has given new wings to the common man and these big businessman fear about it
Looks like Morgan is back in crypto to take advantage