Although Bitcoin (Bitcoin) Has not yet become the “asset class itself”, JPMorgan Chase believes that it is important to meet the demand for cryptocurrency investment, according to a senior wealth management executive.
The company’s director of asset and wealth management Mary Callahan Erdoes (Mary Callahan Erdoes) said that a large number of JPMorgan Chase customers regard digital currencies such as Bitcoin as an asset class.
In a Bloomberg interview released on Tuesday, Ordos Emphasize The bank will continue to provide encryption services to meet the growing demand, noting:
“Many of our clients say this is an asset class, I want to invest, and our job is to help them put their money where they want to invest.”
Erdoes stated that as many experts worry about extreme market volatility, the debate on whether cryptocurrencies constitute an asset class is still ongoing.
“This is a very personal matter. We did not consider Bitcoin itself as an asset class,” Erdoes said, adding that whether cryptocurrency is a store of value remains to be seen. “The volatility you see today must be played out by yourself,” she concluded.
As one of the largest investment banking institutions in the United States, JPMorgan Chase is known for its different positions on cryptocurrencies, including CEO Jamie Dimon is referring to Bitcoin It was called “fraud” as early as 2017.The company has since softened its stance on the industry and reportedly prepared Launch an actively managed Bitcoin fund and also Launch debt instruments Direct contact with a basket of companies focused on cryptocurrencies.
related: BlackRock CEO says long-term investor demand for cryptocurrencies is low
JPMorgan Chase analysts have been paying close attention to the crypto market. Crypto expert Nikolaos Panigirtzoglou predicts Bitcoin will reach $145,000 As its long-term “theoretical goal”. At the end of June, JPMorgan Chase stated that institutional investors had Little interest in buying on dips, Strategists reiterated that the mid-term trading price of Bitcoin will be between 23,000 and 35,000 USD.