Cryptocurrencies

JP Morgan will allow its clients to invest in Bitcoin (BTC)

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It is through an investment fund that the American bank will be offering this offer to its customers this summer.


An actively managed JP Morgan investment fund

According to the sources of Coindesk, the bank will offer its customers a actively managed Bitcoin funds. Active cryptos will be guarded and stored by NYDIG.


Why actively managed? Because unlike passive funds like Galaxy digital or Pantera Personal-Financial.com where the investor will have a replication of the price of Bitcoin. Active cryptos will be used to be actively traded in order to obtain a higher capital gain (but also for higher costs).

A creation in anticipation of the Growing demand on Bitcoin. Although according to its co-chairman Daniel Pinto, customer demand for JP Morgan is not there yet, it should not be long after this announcement.

JP Morgan is becoming more and more active on the subject of Bitcoin. Whether it is through its frequent analyzes of the subject, its forecasts of a Bitcoin above $ 100,000 or the creation of its JP Morgan Coin. However, this was not always the case, its CEO having for a long time decried Bitcoin.

A CEO who hates Bitcoin.

“- What would you do if you caught a JP Morgan trader as a Bitcoin trader?”

“- I’ll send him back in a second. For two reasons: first it is against our rules, and secondly that it is stupid. And both are dangerous. ”

Jamie Dimon. September 2017

“If you’re stupid enough to buy this stuff, you’ll pay the price someday” ‌

Jamie Dimon

It is with these words that the president of JP Morgan, Jamie Dimon, was talking about Bitcoin a short time ago. a speech that has recently lightened. However, he has not yet announced his change of mind, but his co-director Daniel Pinto yes, and the different actions of the bank speak for themselves, such as the recent participation in the fundraising of ConsenSys.

JP Morgan long regarded Bitcoin as a fraud and claimed that it would be tightly regulated by the government. A second statement not necessarily wrong when Joe Biden is in discussion to increase the tax on capital, by aligning with that of income. An increase from 20% to almost 40%. a news shaking the Americans but also the financial markets. To see if, like the bank, the American president will change his mind.

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Hello there! Interested in the world of crypto-assets, I went from simple powerpoint presentations to my friends to writing articles on the internet. The crypto universe is so vast that it allows me to link many of my passions so why not share them with you?

“Cryptos always the same! Boom Boom in the ears! ” Satoshi Gesaffelstein

DISCLAIM

The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.

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