Cryptocurrency

28/01/19 08:05 UTC-4

JPMorgan Chase Bank: cryptocurrency and dystopia

Cryptocurrencies are a dystopia: JPMorgan Chase
Cryptocurrencies are a dystopia: JPMorgan Chase

Representatives of JPMorgan Chase, an American investment bank, said that "cryptocurrency will only matter in a dystopian economy", as reported by CoinDesk news agency.

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In a recent appeal to their customers, bank representatives reported that they are skeptical about the use of cryptocurrencies, except for "dystopia", when investors lost confidence in "all major reserve assets (dollar, euro, yen, gold) and payment systems."

 

JPMorgan Chase vs cryptocurrency bank

In a recent appeal to their customers, bank representatives reported that they are skeptical about the use of cryptocurrencies, except for "dystopia", when investors lost confidence in "all major reserve assets (dollar, euro, yen, gold) and payment systems."

The message with the official appeal was published on January 28 in Business Insider. The bank also stated that, although cryptocurrencies have a low correlation with traditional asset classes, such as stocks and bonds, they are not the best choice for diversification.

"Low correlations are of little value if the hedge-asset itself is on a decentralized market."

Last week, JPMorgan also announced that with such low prices, Bitcoin costs less than the cost of its production. Recall that JPMorgan CEO Jamie Dimon  is known as an "anti-cryptographer", in September 2017, spoke negatively about the idea of ​​cryptocurrency.

More recently, Jamie Dimon on his Twitter campaign agitated crypto-investors to be alert.

"I do not want to agitate against Bitcoin and cryptocurrency. Just beware."

JPMorgan said in a statement that cryptocurrency could play a major role in diversifying global stock and bond portfolios. This information, representatives of the bank argued the research report for February 2018.

Recall that JPMorgan Chase is the largest US banking holding. The main office is in New York. The level of profitability of the company is 109 billion dollars (according to published information for 2018).

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JPMorgan Chase banking holding reported that cryptocurrency – dystopia. As you know, this is not the first negative statement of the bank of the "Great Four of the USA" against crypto-assets.

Editor: Alyona Nabok

See also: "Taiwan: $ 8 million crypto-fraud "

#cryptocurrency #blockchain #USA #JPMorganChase #NewYork #bank #cryptocurrency #dystopia #investment

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