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JP Morgan: Cryptocurrencies Are Here to Stay!

On the same day Goldman Sachs’s head of investment research Steve Strongin said that he believes most cryptocurrencies shall fall to zero as current iterations are “too primitive” to be viable in the long term, their “favourite” competitor, JP Morgan, released a 71 page-long detailed document about Bitcoin titled “Decrypting Cryptocurrencies: Technology, Application, and Challenges.”

We all remember when, in October, JPMorgan Chase & Co’s Chief Executive Officer Jamie Dimon got the market’s attention by calling bitcoin a “fraud” and then adding that “if you’re stupid enough to buy it, you will pay the price for it one day.”

Well, right after that , chief Financial Officer Marianne Lake tried to rescue the situation saying that they are being very open minded to the potential use cases in future for digital currencies that are properly controlled and regulated.

It all expanded this January when Dimon withdrew his previous comments in an interview with FOX saying he regrets making those statements and admitting that “blockchain is real.”

What happened next is that now we have JP Morgan’s one and only “Bitcoin Bible” for investors! Hard to believe, right?

The Bible, which is comprised of 71-pages of crypto, covers topics, ...
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