JPMorgan recently gave a very positive statement about crypto, saying that a lot of their clients see crypto as an asset class. They also plan to invest in the same, and the firm is helping them in doing that. Many firms try to prevent their clients from investing in crypto, but it should not be up to them to decide. And this is a good thing about JPMorgan as they try to give what clients want. This is unlike many firms, as some European ones have even banned crypto trading.
JPMorgan clients see crypto as an asset
Being one of the largest firms globally, JPMorgan has over $3.4 trillion under management. The firm’s CEO recently participated in an interview saying talking about their approach towards cryptocurrencies. Being this large means, they do have all forms of clients and also have a responsibility towards them. So does this means due to the risks involved in crypto, they won’t allow investors to do the same? Well no! Even though they are not very bullish about Bitcoin the firm has not taken away the investment freedom from its clients.
The firm’s asset and wealth management division’s CEO said that blockchain tech is evolving quite fast and is very real. And it has changed the way how they interact with the markets. She finally added their duty is to help clients get into the crypto bandwagon who think it is an asset class and show interest to put their money in it. Some might call it an asset, while others might now. The thing is that only time will tell if Bitcoin is actually a store of value and can it keep growing in value over time.
JPMorgan personally doesn’t see it as an asset, but that doesn’t make them keep it away from the clients. Even Jamie Dimon said back in May that he doesn’t think Bitcoin is an asset. But his personal views doesn’t mean he will tell people what to invest in and what not to. The things is their only goal is to let people put their money where they want to.
What are your thoughts on JPMorgan saying that a lot of their clients see crypto as an asset? And do you believe in the same personally? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.