JPMorgan, the $316 billion investment banking giant is turning very bullish on Bitcoin. Their opinion went from negative in 2017 to very optimistic in 2020.
Back in 2017, JPMorgan Chase CEO Jamie Dimon did not mince words when asked about the popularity of Bitcoin. Jamie Dimon said at an investment conference that the digital currency was a "fraud" and that his firm would fire anyone at the bank that traded it "in a second." "It won't end well," Dimon said, adding that "they will eventually blow up. It's a fraud." https://money.cnn.com/2017/09/12/investing/jamie-dimon-bitcoin/index.html
Three years later and all I can see is positive news like:
"What makes the October flow trajectory for the Grayscale BitcoinTrust even more impressive is its contrast with the equivalent flow trajectory for gold ETFs, which overall saw modest outflows since mid-October..." via @jpmorgan. "This contrast lends support to the idea that some investors that previously invested in gold ETFs such as family offices, may be looking at bitcoin as an alternative to gold."Β
Just to see how bullish I feel right now, here are historical Bitcoin prices for November 9th:
2020 - $15596
2019 - $8798
2018 - $6368
2017 - $7261
2016 - $729
2015 - $367
2014 - $347
2013 - $338
2012 - $10
2011 - $3.00
2010 - $0.27
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Be patient my LamboMoonFrenz, we'll might get to the moon sooner than we originally thought. First we have to cross the $20K and next year, people will start watching closely and later on FOMO in. This time it won't be just people like me ant you. This time it'll be multimillion international companies who will just in and push the price much higher.
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Thank you guys for reading, liking, following, and tipping. Extremely appreciated! π
