As I read in the news, back in 2019, JP Morgan did state that BTCs are fraudulent. Now, he apparently changed his mind and now opened his bank to cater to bitcoins and cryptocurrency. I think this is good because well at least, the company and its management is open to progress in terms of services, to who it caters to and what products it provides. It’s really progressive and I think a little bit more time JP Morgan can expand more and more on his services.
While we may express some negativity on this turnaround, this is actually helping Bitcoin in some ways. One, it is offering more legitimacy to Bitcoin as far as the Wall Street is concerned. Two, this is cementing the credibility of Bitcoin as an important asset that many investors and traders should be involved with. Three, this can partly open up more markets to Bitcoin and cryptocurrency as the world right now can be looking for good alternatives where to invest their funds. Yes, two years ago I also express some discontent on JP Morgan but these days it is taken more as a friend to Bitcoin, though of course we must remember that these guys are doing things for profit.