JP Morgan Chase, the most riveting investment banking giant in the USA, has once again spewed some words of demotivation for Bitcoin, and this is not something that should come out as a surprise as JP Morgan was the most prominent opponent when it came to accepting the idea of Bitcoin and decentralization. But then it came around. According to some news, it has even started a Bitcoin fund that would serve the wealthy clients who want to trade in Bitcoin, hold onto it, or some other type of investment using this specific cryptocurrency. Despite all that, it has come before media one more time, sharing the most intricate and passionate feelings for Ethereum to strip and outperform Bitcoin and becoming the new leading giant of the crypto market.
Preference to Ethereum
According to experts at JP Morgan, they see Bitcoin and Ethereum as two different entities. Bitcoin is a crypto commodity that can be used to hold and stuff or outweigh the value of gold and other such commodities, whereas Ethereum is a crypto-native economy and should be the focus of exchange, according to JP Morgan. Another thought process regarding JP Morgan and what it thinks of Bitcoin has also come to light. Bitcoin is nothing but a shadow that has masked the true potential and financially rolling ball of the decentralized boom because people seem to be more interested in holding onto it rather than making active trade. This has allowed for a massive chunk of Bitcoin to be packed and stuck in various projects.
Apart from all that, Ethereum did manage to reach an all-time high as of writing this post and has claimed a spot at $2735, which is not a surprise as it has a great run lately. Although all things apart, there is something going on with this theory of JP Morgan or sudden crypto wish that it wants to come true; Bitcoin is a heavy commodity/cryptocurrency and not for the usual class. Not in terms of affording to trade with it, and this is something that is understandable because there needs to be a cryptocurrency that is not so high-priced, and people can get their hands on it Ethereum comes off as a likely candidate. But the original thing that they should be thinking is that what will happen when Ethereum’s price outweighs the current objective mark that people are clinging to as something that is tradable?
