"Those who turned bears to the markets are liable to FOMO back in at some point"
How did JP Morgan suddenly become bitcoin friendly? If I'm not mistaken, a few months ago during which there were a lot of Bitcoin energy FUDs, most of the big players in the financial sectors, banks precisely, were engaged in a few motions against the bitcoin network. However, it is quite understandable how things could change in a matter of time, it's actually proof that "Individuals control more power" if only they could realize that!
Decentralized Finance is the focus, with or without the encouragement of top financial institutions, people will still embrace the network that grants them full power over their wealth, not a centralized one where the supposed "investors" are only products where much more money is made off.
There are TOP FOUR "Bullish per se" news in the air, which points towards the fact that crypto is forever, and bitcoin is liable to dominate in the rim of digital currencies.
JP Morgan
"Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients."
When the FUDs lowers down, it brings people back to reality, and obviously no one wishes to miss out on gaining a few more wealth increases. Banks are only financial sectors running in the old model of wealth management. The nature of the financial system which is based on centralized power is what has been keeping most institutions from hopping in on the trend. Cryptocurrency is obviously a killer tool, but institutions are scared of regulators cracking the whole shit down. It's fear, uncertainty and doubts, but at the same time, fear of missing out is lurking, so it's increasingly difficult to decide if crypto is a "joke" or not.
"In a memo distributed earlier this week, JPMorgan told its advisors that effective July 19, they can take orders to buy and sell five cryptocurrency products. Four of them are from Grayscale Investments: the Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust. The fifth approved fund is Osprey Funds’ Bitcoin Trust." read more
Grayscale as we all know or maybe not, owns over 650k BTC last time I checked, one of the big whales in the party. Individual investors have been on the necks of these financial institutions and to avoid losing clients, they've got to give in.
Jack Dorsey with Twitter
"The Twitter CEO said that Bitcoin would be a “big part” of the company’s future at the second-quarter earnings call, outlining the digital currency’s potential to further transform Twitter products and services. Dorsey said that many existing business models would be much different if Bitcoin existed before Twitter or Facebook." read more
Twitter has been the crypto social media no doubt. However, it's censored nature was kind of a downside of it all. I guess a couple people still ask " Is Twitter Decentralized"? Or could it ever Be Decentralized? In terms of mainstream spotlight for cryptocurrencies, Twitter has been the go to, and to keep that spot and probably attain more to it, Twitter is constantly looking to advertise itself with our "shitty internet money"
Billionaire Thomas Peterffy playing the odds
The biggest money gamble in the system is obviously "cryptocurrency" , other investments are well termed "system appreciated" only "cryptocurrency" seems to be risky. I recall a quote a saw online some day, even though I'm not a fan of motivational quotes but here's how it goes ;
"Take risks, if it goes right, you'd be happy, if it doesn't, you'll learn"
We're currently living in a finance system where you don't even gamble yet you lose money, so why not take the risk knowing that inevitably, you'd lose money anyways? Sick right?
Well, Thomas tends to know a bit about gambling, so here's what he's doing.
"Thomas Peterffy, founder and chairman of a major online trading platform, Interactive Brokers (Nasdaq: IBKR), revealed in an interview with CNBC Wednesday that he has invested in cryptocurrency."
He said ;
"Even I myself have put a little bit of money into crypto, because even though chances are, I think, that this is not going to be a viable market, I think that there’s a small chance that this will be a dominant currency, so you have to play the odds."
This is a billionaire who's net worth is around $21.4 billion. The funny thing about the rich is that " they never hype an investment " you'd see them going all ''lowkey"on the projects even after investing much knowing its full potential. His company is also preparing to launch cryptocurrency trading by the end of the summer. Peterffy reportedly said, “Customers certainly are asking for "crypto trading" and they expect to be ready to offer it to them by the end of the summer.”
If he's a billionaire and says he invested "a little bit" of money, how much do you think it is?
The last on the list,
Switzerland's Bank "UBS"
UBS, Switzerland’s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments.
A lot of people see cryptocurrency as an asset class, and if most institutions don't wanna lose investors to their competitions, they've got to adopt the new system of finance.
Thanks for reading this far, hope that makes you feel less uncertain about where this is going.
