On Monday, during the company’s investor’s day event, CEO Jimmy Damian said that JPMorgan will soon allow customers to buy bitcoin. However, he said that the bank will not provide nursery services for the original.
the Bank The approach confirms the existence of a broader trend between traditional financial institutions to accommodate customer requests on digital assets while maintaining a cautious position on direct participation. JPMorgan budget the customer’s interest in risk management strategies by enabling the bitcoin purchases without providing custody services.
Jpmorgan is among the American banks that have been accused of support in the past three years. However, policies that were unfair to the encryption industry were canceled. These include “ChokePoint 2.0” and the decision to drop the controversial accounting base SAB 121.
Although the bank still does not treat encryption like other traditional assets by providing custody, the financing sector seems more open to Blockchain technology.
Jimmy Damon says he still does not like BTC
After the announcement, Damon explained that he is not a bitcoin lover. However, by allowing Bitcoin to enter the bank, it tells the amount that has changed since 2017. At that time, Bitcoin described it as “fraud”, and he said he was like a tulip bubble, and said he would explode.
He went to the extent that he would shoot at any jpmorgan worker who caught him dealing with. In 2024, he said he would not publicly discuss Bitcoin. He also said that Bitcoin “has no fundamental value” and is used by criminals involved in sex, money laundering and ransom activities.
However, although he said all this, JPMorgan remained involved in the encryption market by allowing wealth management customers to buy bitcoin. The bank is also a participant registered at Spot Bitcoin Etf in Blackrock.
Recently, JPMorgan Chase has completed its first organized trade on Blockchain General. The company only worked on private networks for institutional customers for years.
The Testnet deal was made with the help of Ondo Finance (a pioneer in the distinctive symbol of the real world assets) and ChainLink Both infrastructure, Kinexys, JPMorgan’s Blockchain section.
Meanwhile, investors interact on all social media, saying that Dimon contradicts himself by saying that he does not like BTC but will allow his customers to buy.
Bitcoin Rally is running
During the Asian trade session on May 19, Bitcoin price fell 4 %. It fell from an “important level”, as Glassnode was placed. The data analysis platform showed that the height of Bitcoin stopped slightly less than 106,600 dollars, a major sign where 31000 BTC is held.
Also, after MOODY classification to classify American credit and US Treasury revenues have increased, investors have become more interested in risk -framed assets like Bitcoin. However, macroeconomic pressure has become stronger and effective.
Meanwhile, the strategy (MSTR) bought 7,390 BTC for about $ 764.9 million at $ 103,498 per bitcoin on average. With this new purchase, the company is now 576,230 BTC in Bitcoin, at a value of about $ 60 billion at the current market price of $ 105,000 per Bitcoin. The average price in which the strategy bought all Bitcoin coins is now $ 69,726.
The main difference wire The encrypted brands help penetrate the main headlines and control them quickly
