The heads of the IMF and JP Morgan claim they don’t believe that bitcoin will achieve widespread usage in the next years.
The banking giant’s JPM Coin will be majorly used for the institutional purpose to transfer money, securities and other assets globally by leveraging the power of blockchain.
According to yesterday published JPMorgan’s Global Research, despite it will be very difficult for cryptos to completely displace government-issued currencies, they can play a decisive role in the diversification of global bond and equity portfolios.
J.P. Morgan Chase Chairman and CEO Jamie Dimon has taken back his critical words about bitcoin admitting the usability of blockchain technology for financial markets, even though he still has no desire to deepen into the subject that much.
JP Morgan, one of the largest banking institutions in the United States, is looking at allowing its clients to trade bitcoin futures, while its Chief Executive James Dimon stays negative to Bitcoin believing it’s a fraud.
Ending a range of downturns Bitcoin recovers, despite Ray Dalio, Bridgewater Associates’ founder, calls it “a bubble”, and Jamie Dimon, CEO of J.P. Morgan, recently declared it a “fraud”.
John McAfee challenged J.P. Morgan CEO Jamie Dimon’s skeptic statement about bitcoin on Wednesday, September 13.
The project aims at transformation of loans and settlements with a help of blockchain technology.
The heads of the IMF and JP Morgan claim they don’t believe that bitcoin will achieve widespread usage in the next years.