Two Very Different Morgans: JPMorgan Chase and Morgan Stanley: "Bitcoin Is More Than Just A Fad"
I have no idea why, but two of the top banks in the US are sharing a common name: "Morgan". One is JPMorgan Chase, whose head, Jamie Dimon, recently became famous for mocking - or even threatening Bitcoin - and the other one is Morgan Chase, whose head, James Gorman (never heard of this guy before, I confess in all honesty) recently declared something very different from what you'd expect.
According to Bloomberg, James Gorman said:
"The concept of anonymous currency is a very interesting concept – interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that."
I think the mere fact that crypto is discussed at such high level is encouraging, because it opens the eyes to people who are accustomed to capital flows. And the crypto community needs this skill, as right now it is too speculative (at least that's what I think).
In conclusion:
- banks who are interested in Bitcoin have "Morgan" in their name
- not all bank CEOs are narrow minded
- there way too many names in the news these days, all taking about Bitcoin, and I have a really hard time remembering them all.
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Morgan Stanley was created by the grandson of J.P. Morgan. JP Morgan kept the commercial side of the business while Morgan Stanley focused in the investing side. It was required this way in order to provide a firewall between those parts of the banking services.
JP Morgan was a bank. It was merged with Chase after the housing bubble implossion. Then it became JP Morgan Chase.
I knew these guys were related :)
Its another reason to invest in bitcoin. Then you only have to remember one name. Easy!
Then there is steem, which has two names, steem and steem dollars and four places you can put them...
just propaganda whose concept is to limit the influence of the trade markets.
That name, Morgan, is currently fashionable :-)
@dragosroua,
They understood the power of crypto, actually the power of Block Chain! I think that's why they are acting like this!
Cheers~
Interesting. never any banke support cryptos the only think in play with the money of others.
Don't understand why will banks not accept crypto
HODL on as the Morgan's are back in action lol