BITCOIN

JPMorgan CEO doesn’t care if BP coins grow 10X in five years


Bitcoin investing is arguably one of the most talked about investments in the finance industry right now. The return on digital assets has seen people allocate more of their investment budgets to Bitcoin. But for those who may not be willing to invest in assets, orrow was a way to get more money to invest.

Related Reading | More than $ 5 billion in bitcoin and etherium has been removed from the cold wallet in China’s crackdown

Individuals are not alone in investing in Bitcoin. Institutional investors have also historically sought to invest in BTC. A notable example of this is MicroStrategy, a leading institutional BTC investor, which raised million 100,000 million in February to buy more bitcoins. It is a growing trend to invest in the crypto market. But JPMorgan CEO says it is foolish to take an orro to invest in Bitcoin.

Don’t borrow money to buy bitcoin

In an interview conducted by the Times of India, JPMorgan CEO Jamie Damon talks about bitcoin. Regarding its popularity, Simon said he believed people were wasting “too much time and breath” on digital property because they didn’t think about cryptocurrency. He has revealed that he does not personally invest in digital assets. Mentioning further, “I think if you borrow money to buy Bitcoin, you are a fool.”

BTC price trading above $42K | Source: BTCUSD on TradingView.com

The CEO further believes that the government will eventually control the cryptocurrency because they “control everything. Crypto regulation has been a topic of discussion for the SEC recently. The government will control it.This rule, the CEO believes, will limit resources.

May 10 assets over the next five years

Since its inception, Bitcoin has recorded tremendous success. Wealth has grown by more than 400,000% since it was first launched a decade ago. Its past growth trusts the future price forecast placed on Bitcoin. And while not a big believer in digital assets, the CEO believes that digital assets are likely to grow 10 times over the next five years.

Related Reading | JPMorgan analysts say big money is dumping bitcoin for Ethereum

However, the CEO notes that it is not clear where the assets will end up in the next two years. He mentioned other investments that were once heated in the market and how they are now worthless year after year, such as internet stocks and the popular beanie baby.

Damon further noted that speculation is bound to happen in every market and that is what drives financial markets. “So, I don’t know why there’s a flurry of speculation, especially when there’s as much liquidity in the system,” the CEO said.

Featured image from Seeking Alpha, chart from TradingView.com



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