We all know that JPMorgan is sending mixed signals about Bitcoin and other cryptocurrencies lately. The leading US bank has once seen the Bitcoin as a major opportunity for investors, and later warned against a 50% drop in BTC’s price.
However, according to recent events, JPMorgan’s CEO Jamie Dimon made a statement that will make headlines for months. The statement basically backs up the release of what is called a “Bitcoin Bible” for investors – issued by JPMorgan itself.
The bitcoin bible is a book comprised of 71 pages. It covers all sorts of topics from technology to use cases for Bitcoin. It also covers the potential hurdles of the leading cryptocurrency. However, some JPMorgan analysts have raised eyebrows issuing a report that says conditions are ripe for the BTC price – and it may fall by 50%.
Still, the Bitcoin Bible is making all the news recently. One of the things that is most revelatory in it is JPmorgan’s realization that cryptocurrencies are very unlikely to disappear. As written in the Bitcoin bible:
“CCs are unlikely to disappear completely 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.”
The bible also points to cryptocurrencies as something that should be diversified for investment portfolios for the best possible results. This could certainly bolster cryptocurrencies in the retirement market and trigger a lot of plans or at least expand the conversation.
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