JP Morgan has continued to bash bitcoin and cryptocurrencies, saying the worth of them continues to be unproven and that will probably be at the very least one other three to 5 years earlier than blockchain know-how makes a distinction to the banking sector.
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‘A Dystopian Scenario’
America’s largest financial institution has reaffirmed that it’s nonetheless skeptical of cryptocurrencies. JP Morgan stated that such belongings would solely be of any worth in a “dystopian state of affairs” the place buyers misplaced religion in gold, the greenback and the worldwide funds system, in response to Reuters. “Even in excessive eventualities similar to a recession or monetary crises, there are extra liquid and easier devices for transacting, investing and hedging,” the financial institution was quoted as saying.
The Manhattan-based agency stated it could nonetheless be years till blockchain know-how…