BIG COMPANIES ARE GETTING INTERESTED IN CRYPTOCURRENCY
Since the year 2020, Wall Street has been experiencing some problems with Bitcoin and the entire cryptocurrency industry. The large asset managers are currently starting to focus on cryptocurrencies, which means they will arrive with a ton of liquidity and push prices as much as they want. In the same way that they did with other things like gold, we should anticipate that they may influence Bitcoin.
Some people enjoy discussing bitcoin over loudspeakers, especially when the price is low. We see the CEO of JP Morgan crashing Bitcoin, referring to it as a decentralized Ponzi scheme. You should be aware that a significant portion of JP Morgan's offenses involve hypocrisy. The fact that Jamie Dimon is currently disrupting a Bitcoin discussion is not shocking; he already done so in 2014. Even though he disparaged it, bitcoin has increased 20 times since then. While Bitcoin has increased by 20x, JP Morgan stock has hardly doubled.
JP Morgan has just opened a Bitcoin trading desk and given its customers access to acquire Bitcoin. This is puzzling considering that JPMorgan once referred to Bitcoin as a Ponzi scheme. The majority of the large banks are fans of cryptocurrency and want to participate. When BlackRock bitcoin funds and BlackRock clients could invest in bitcoin, this was a startling statement. They are really intelligent because they understand when to purchase Bitcoin and when to offer it to their exclusive client. If BlackRock continues to purchase Bitcoin during this bear market, we won't be shocked. They'll undoubtedly have a significant effect on the market.
The Nasdaq is also planning to introduce a cryptocurrency custody service, and it would be wise to do so if it wanted to succeed in the cryptocurrency industry. They are aware of Bitcoin's potential and desire to participate in it. Fidelity wants to make it possible for customers to purchase Bitcoin. Some of the biggest brands in the conventional financial world are launching DEX, a new cryptocurrency trading platform. Even though the market is experiencing some difficulties, you shouldn't lose concentration; everything will turn out OK.
We are see many good news even in this bear market.
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