JPMorgan Bullish on Bitcoin, Litecoin and Four Others, Says Cryptos Are Here to Stay
Multinational banking giants JPMorgan Chase is betting on six cryptocurrencies: Bitcoin, Ethereum, Ripple, Dash, Cardano and Litecoin to survive in the long term.
The bank made this prediction in a recently published internal financial report, cryptocurrency News media platform Chepicap reported.
In the past, various executives including JPMorgan’s CEO Jamie Dimon have slammed cryptocurrencies, calling them a fraud. However, the internal report suggests an entirely different opinion and is a direct contradiction of the publicly-held opinions of the company related to cryptocurrency.
According to Chepicap, the report laid emphasis on the decentralized nature of cryptocurrencies as the main motivating factor that would lead to their mainstream adoption.
JP Morgan Chase & Co is an American based investment banking firm that is headquartered in New York and is considered to be one of the biggest and most influential investment banking firms in the world.
Currently, JPMorgan is still ‘acting’ hard against cryptocurrencies, and it remains to be seen whether JPMorgan will come out in support of cryptocurrencies publicly.