JPMorgan turns bullish on Bitcoin citing ‘potential long-term upside’
Cointelegraph
Published Oct 24, 2020 03:30PM ET
Updated Oct 24, 2020 05:20PM ET
JPMorgan (NYSE:JPM), the $316 billion investment banking giant, said the potential long-term upside for Bitcoin (BTC) is “considerable.” This new optimistic stance towards the dominant cryptocurrency comes after PayPal allowed its users to buy and sell crypto assets.
The main factor put forward by JPMorgan’s Global Markets Strategy division is Bitcoin’s competition with gold. The note, obtained by Business Insider, reads:
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Written By: Cointelegraph
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