The giant bank is preparing to buy Bitcoin without intermediaries!
If you’re upset that I’m late on Bitcoin, you’re not alone. Banks are also late. Giant bank starts to buy Bitcoin without intermediary.
Giant bank is preparing to buy Bitcoin without intermediaries!
Banks and giant investment firms, which were confused about Bitcoin until 2020, started investing in Bitcoin as of 2021.. US-based giant bank Morgan Stanley is preparing to buy Bitcoin directly without any intermediaries.
Corporate firms and banks were providing their Bitcoin investments through intermediaries.. Generally, investment companies such as Grayscale and MicroStrategy acted as a bridge between institutional firms and crypto money markets.
US-based Morgan Stanley was founded in 1931 and the bank has branches in many regions.. Within 2-3 weeks, the bank plans to develop an infrastructure that can directly purchase Bitcoin on behalf of its wealthy customers.
Please See: Bitcoin news, agenda and last minute developments
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Morgan Stanley will also start training activities on Bitcoin and cryptocurrencies for its customers.
Corporate companies are opening on Bitcoin and cryptocurrencies.. For example, the popular payment platform Paypal this week; It has decided to expand the use of Bitcoin and crypto money globally, which it started in the USA.
The other important development is again based in the USA! The world’s largest commodity exchange, the Chicago Commodity Exchange (CME), has announced that it will start micro-based futures trading.. Bitcoin investors will now be able to purchase Bitcoin futures on the CME with a balance of 0.1 BTC.. In the chart below, we see the hourly change in Bitcoin prices.
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Bitcoin recommendation from JPMorgan
Wall Street
Strong> banking giant JPMorgan strategists suggested that a one percent portfolio allocation to Bitcoin would act as a hedge against fluctuations in traditional asset classes such as stocks, bonds and commodities.
As quoted by
Bloomberg, JPM Strategist Joyce Chang and Amy Hostated write in a note to their clients:
In a multi-asset portfolio, investors allocate 1% to cryptocurrencies to gain an efficiency gain in the portfolio’s overall risk-adjusted returns.
Approval to these plans of JPMorgan strategists, Paul Tudor Jo nes came with Bitcoin investments of Stan Druckenmiller, Tesla and MicroStrategy. Additionally, BNY Mellon has announced its plans to hold, transfer and issue digital assets for its clients.
JPMorgan analysts suggest that crypto assets should be viewed as investment vehicles and USD or JPY.
However, earlier this month by other strategists at the investment bank; The comments now conflict with the view that “cryptoassets continue to be ranked as the weakest hedge for stock declines.”
Speaking to CNBC on February 17, Ark Cathie Wood of Investment Management said that if all companies invested 10% of their cash in Bitcoin, the BTC price would increase by another $200,000.
Cryptocurrency purchases will rise by 2021 a fact that has increased in. Institutional buyers are not the only ones entering the cryptocurrency market.. Trade firm Robinhood reported that nearly 6 million new users purchased cryptocurrencies on the platform in just the first two months of this year.
Figures show that the bullish momentum in the retail industry is still strong despite the recent correction
Live BTC price: $ 31,418.00
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The infuriating Bitcoin price prediction from JPMorgan
America’s mega bank JPMorgan Chase strategists say that Bitcoin will stand out as an alternative reserve asset to gold, up to 146 thousand dollars It believes it has a chance to climb.
It has been popular for years to draw parallels between Bitcoin (BTC) and gold as a hedge asset.. So far, the total market cap value difference between the two assets has limited this analogy considerably.. Bitcoin has a market cap of $5.85 billion even after the massive price surge in December 2020. Gold continues to command roughly 4.6 times that.
Despite these data, JPMorgan Chase experts are predicting a scenario where Bitcoin may overtake its predecessor.
Announced Jan. The >Bloomberg report referred to a note drawn by bank experts led by Nikolaos Panigirtzoglou, with the total private sector investment in Bitcoin equaling the investment value in gold.
JPMorga experts on the subject He said: A convergence in fluctuations between. At this point, the theoretical Bitcoin price target above $146,000 should be seen as a long-term target, not this year. He talks about the strong positive signs in the short term, while the investment outlook is difficult to read in the medium term.
With the new year The valuation and position ground for Bitcoin has become much more difficult…. We cannot exclude the possibility that the current speculative frenzy will push the Bitcoin price into the consensus zone in the $50,000-100,000 range.. However, we believe that such price levels will be unsustainable.