JPMorgan: Cryptocurrencies ‘Unlikely To Disappear’
A new report drafted by the bank’s Global Research unit, appear to be bullish on cryptocurrencies, despite past criticism from Jamie Dimon, Chairman, CEO and President of JPMorgan.
The general outlook on cryptocurrencies have been great lately, and now JPMorgan also has positive things to say about cryptocurrencies. In a report, which is titled “Decrypting Cryptocurrencies: Technology, Applications and Challenges”, JPMorgan said:
“CCs [Cryptocurrencies] are unlikely to disappear and could easily survive in varying forms and shapes among players who desire greater decentralization, peer-to-peer networks and anonymity, even as the latter is under threat,”
Moreover, the report also predicts that one day, digital currencies could play a decisive role in the diversification of global bond and equity portfolios:
“If past returns, volatilities and correlations persist, [cryptocurrencies] could potentially have a role in diversifying one’s global bond and equity portfolio. But in our view, that is a big if given the astronomic returns and volatilities of the past few years.”
A new report drafted by the bank’s Global Research unit, appear to be bullish on cryptocurrencies, despite past criticism from Jamie Dimon, Chairman, CEO and President of JPMorgan.
The general outlook on cryptocurrencies have been great lately, and now JPMorgan also has positive things to say about cryptocurrencies. In a report, which is titled “Decrypting Cryptocurrencies: Technology, Applications and Challenges”, JPMorgan said:
“CCs [Cryptocurrencies] are unlikely to disappear and could easily survive in varying forms and shapes among players who desire greater decentralization, peer-to-peer networks and anonymity, even as the latter is under threat,”
Moreover, the report also predicts that one day, digital currencies could play a decisive role in the diversification of global bond and equity portfolios:
“If past returns, volatilities and correlations persist, [cryptocurrencies] could potentially have a role in diversifying one’s global bond and equity portfolio. But in our view, that is a big if given the astronomic returns and volatilities of the past few years.”
“On the one hand, privacy has come to be seen as an implicit constitutional right, and that may extend to monetary transactions,” said the author. “On the other hand, there are several laws on the books intended to prevent the financial system from being used to launder money or finance terrorism and other activities.”
Via altcoin buzz.io