JPMorgan says Ripple, Bitcoin, Ethereum, Cardano, Dash, Litecoin are here to stay

20 Jul, 2018
by Joeri Cant
JPMorgan says Ripple, Bitcoin, Ethereum, Cardano, Dash, Litecoin are here to stay

This prediction by JPMorgan has been mentioned in an internal report of the American multinational investment bank and financial services company, headquartered in New York City.

Various executives, including the CEO of the company Jamie Dimon, have clearly stated that they believe that cryptocurrency is actually a fraud. However, the internal report holds an entirely different opinion and is a direct contradiction to the publicly-held opinions of the company related to cryptocurrency.

The report seems to have quite a positive outlook towards blockchain and noted that blockchain appeared to have a promising future once the loopholes were fixed in the technology.

It stated that cryptocurrencies would continue to thrive and investors would invest in it for decentralization and would continue to evolve with the help of peer to peer networks and the anonymous nature of the cryptocurrencies.

At this point JPMorgan is still 'acting' hard against cryptocurrencies, and it remains to be seen whether JPMorgan will come out in support of cryptocurrencies publicly.

However, one could ask the question if JPMorgan is actually qualified to talk about cryptocurrencies. While the report seems to be positive towards blockchain tech and cryptocurrencies, many will remain skeptical and cautious when a major financial institution attempts to become an authority in a sector that’s designed and driven to eliminate the need for that very same institution.

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