I'm sure you've seen the news about JPMorgan report in which cryptocurrencies are seen like a "potential diversification portfolio". If you didn't, you may start from here, where you can read a rather comprehensive analysis of it.
But if you don't have time, I'll give a TLDR in 3 blurbs. According to that report, JPMorgan considers that:
- cryptographic assets are real assets
- blockchain is an opportunity
- if regulated, crypto is nice
This is such a long way from Jamie Dimon's statements a few months ago, in which he called Bitcoin "a fraud".
A dramatic shift in position, at such a high level, should be very carefully studied, because this is not coming from a friendy chat between two geeks over a couple of beers. The people who wrote this are not "blockchain enthusiasts" and this is not wishful thinking. This is the position of one of the biggest traditional financial institutions out there.
And this 180 degree pivot tells me two things:
- They realized the crypto revolution is for real, and they're somehow scared.
- They realized being scared doesn't help, so now they want a piece of the pie.
Of course, we're still a relatively long way until we can pay with Bitcoin, Steem or SBD at our favorite coffee shop, no matter where it's located.
But the good news is that we're clearly heading there, full speed.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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