Is JPMorgan Joining The World of Crypto?

almost 3 years ago

After four years of portraying cryptocurrencies as "bogus", US investment bank JP Morgan Chase is currently actively registering designers to create Ethereum and the blockchain.

JPMorgan posted these positions on Glassdoor, a US based workplace.

The organization is looking for designers with experience creating cool agreements, implementing business applications, and agreeing crypto agreements on the blockchain.

The announcement is a remarkable move regarding tone in JPMorgan after several long periods of reviewing Bitcoin as a hoax.

In 2017, Jimmy Dimon, the current CEO, expressed:

Crypto forms of money are even more awful than tulips

I would fire any JP Morgan dealer who manages the digital forms of money.

To completely change the viewpoint after Bitcoin has flourished and established itself, and its takeover by various organizations and organizations.

Is JP Morgan ready to join the crypto space?

A job announcement might be a good sign that JPMorgan has finally joined the massive rush of monetary organizations embracing cryptocurrency and blockchain innovation.

The bank has expressed willingness to administer forms of cryptocurrency when a suitable institutional solicitation arises in the organization to seek ways to open up to it.

JPMorgan also endorsed the story that 1% of Bitcoin was put aside for flexible investments, marked by low liquidity capacity in dollars and others, and reliance on the introduction of a lot of bitcoin.

Information from Glassnode shows how Bitcoin's liquidity stock is declining as tycoons and diggers increase their positions when researching.

One example of institutional Bitcoin accumulation, Grayscale, the organization owns more than $ 36 billion in Bitcoin.

Grayscale's asset manager recently announced $ 50 billion in Total Assets Under Management (AUM), although that figure has changed due to a late fall in value.