Post
Topic
Board Bitcoin Discussion
Re: Wells Fargo: US Bank changes its mind about Bitcoin
by
Fortify
on 20/05/2021, 18:45:40 UTC
Wells Fargo now calls bitcoin an investable asset and is offering only their wealthy client a chance to buy in. This comes as a shocker especially when I think about their pessimistic view on cryptocurrencies and  actions
https://coinrivet.com/wells-fargo-bans-customers-from-purchasing-cryptocurrency/

I find this new action of Wells Fargo bank suspicious. Is this just a whale manipulation? Just after a massive dip, a famous US bank decides to changes their opinion about Bitcoin and only makes provision for the rich to buy. JP Morgan and others have been proved to be hypocrites after calling bitcoin a fraud, they later go ahead to embrace crypto.
https://www.google.com/amp/s/www.coindesk.com/wells-fargo-plans-to-offer-crypto-investment-to-some-clients%3famp=1

Bitcoin had a massive dump this month after the CEO of Telsa, Elon Musk said he was concerned about its environmental impact. But could a new announcement from the banks be the revival we need?

This sort of change of heart should tell you one thing: The rich have way too much money and love diversifying their assets in an effort to make even more. At this point they must have a lot of clients saying "I heard my friend in the golf club say he made ten million after he bought some dogecoin for under 1 cent a piece using some pocket change". The investment banks are always trying to stay on the right side of the US government, as they've paid many fines and had legal charges against them in the past. Something must be telling them that the US government is likely to regulate this source of funds rather than try to ban it outright, which would devastate the price. I'd totally remove Elon from the equation because he changes his mind more than the tides.