July 25, 2021

Wealthy JPMorgan Clients Start Seeing Bitcoin As An Asset Class

The investment bank named one of its main tasks to satisfy the demand of users for digital assets.

Most of the clients of the management divisionassets and capital of the investment bank JPMorgan began to view bitcoin as an asset class and want to invest in it. The director of this division, Mary Callahan Erdos, announced this in an interview with Bloomberg. JPMorgan believes it is important to meet its customers' demand for digital assets, she said.

“A lot of our clients say, 'This is an asset class and I want to invest.' Our task is to help them invest money wherever they want, ”explained Callahan Erdos.

Assigning bitcoin to an asset class is a subjective matter, says Callahan Erdos. Some investors are worried about the high volatility of the first cryptocurrency, she said.

“The imbalances you see today just have to disappear by themselves,” she added.

Bitcoin was recognized as a class by Goldman Sachs in late Mayassets. Then the bank reported on the growing demand for cryptocurrencies among institutional investors and asset managers. Goldman Sachs was also the first among the largest US investment banks to create a department for cryptocurrency trading. The new department has already successfully traded two types of bitcoin-related derivatives.

In June, JPMorgan analysts predicted that the value of bitcoin could drop to $ 25 thousand. They maintain a negative outlook for the main cryptocurrency.

</p></p>