Stock market giants buy millions of dollars in bitcoin – proof of a bright future, according to JP14. Oktober 2020
All Crypto Fans – The arrival of large companies and institutional funds in the cryptosphere is a real game changer . It is analysts at the mega-bank JP Morgan who say so, while predicting a bright future for Bitcoin (BTC).
Bitcoin has „a lot of potential „
The massive bitcoin purchases by MicroStrategy and Square have n’t gone unnoticed in the crypto community, but other observers have noticed them as well .
Indeed, the multinational banking company JP Morgan Chase & Co. has spotted this possible turning point , which could herald a long-awaited wave of institutional investments in crypto-assets.
According to a recent report by analysts at JP Morgan, quoted by crypto media CoinDesk , these redemptions constitute a „strong vote of confidence for the future of bitcoin“ .
The big bank thus considers that this decision supports the prices of Bitcoin Superstar review and could also lead to other purchases .
Institutionalists also like “real” bitcoins
Analysts note that bitcoin derivatives , such as options contracts , remain the preferred mode of acquisition of BTC by institutions and are therefore on the rise .
However, more and more people seem to prefer having ‚real‘ bitcoin – although always indirectly – through funds, like Grayscale , which actually own the underlying cryptocurrency – unlike non-physical derivatives, which do not trade. than in dollars.
With the monetary printing policies of major central banks and the inflationary threat they pose to fiat currencies, Square, MicroStategy and now Stone Ridge could well initiate a whole new movement of investment in cryptocurrencies.
Are JP Morgan analysts right? When we remember that for a long time they criticized bitcoin and cryptos, we can be almost surprised at this change of vision. The next few months are going to be decisive for knowing if the big institutional ones really land in the cryptosphere.