JPMorgan Changes Tune on Crypto as Bitcoin Surges
In a reverse course that no one saw coming, JPMorgan has changed its tune on crypto amid the ongoing Bitcoin surge. Specifically, the institution said, “We see the higher cryptocurrency prices not only sustaining but improving” in a recently issued client note. The standing is in opposition to comments made by JPMorgan CEO Jamie Dimon. Indeed, he has been vocal about his criticism of certain crypto. Dimon has specifically identified Bitcoin as a “pet rock” while questioning its use cases and relevance as an asset class. JUST IN: JPMorgan says "we see the higher cryptocurrency prices not only sustaining but improving." — Watcher.Guru (@WatcherGuru) February 27, 2024 Also Read: JP Morgan : 78% of Institutional Traders Not Interested in Crypto. JPMorgan Optimistic About Crypto Amid Market Rally Since the start of the week, the digital asset market has been amid a surge. Leading the way is Bitcoin, which reached its highest level since November ...