In the latest note to investors, the American investment banking entity, JP Morgan chase Bitcoin again and asserted that the digital currency, which is evolving continuously in its valuation, is a larger hedge against inflation compared to gold. While the investors of Bitcoin have stated the same various times, the statement of JP Morgan chase Bitcoin gives a good amount of backing to such claims.
Earlier the investors have stated that the digital currency promises faster return compared to gold which can be stored easily for gaining a value in the future. However, even after JP Morgan Bitcoin prediction, Bitcoin remains a highly volatile crypto as it still operates in an unregulated market. The digital currency was trading at $56,801.50 (11.10.2021, 01.33 GMT). The note that was released by JP Morgan stated,
“Institutional investors appear to be returning to Bitcoin, perhaps seeing it as a better inflation hedge than gold,” JP Morgan’s note reportedly read. “There are tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started re-emerging in recent weeks.”
JP Morgan Chase Bitcoin: What Dell Technology Founder Has To Say
Earlier on 10th October, Dell Technologies founder, Micheal Dell, in an interview said that the concept of blockchain is underrated. His comment further claimed promise for the investors of Bitcoin. This company has been among the earliest entities in the world to accept BTC as a payment mode. They started to accept digital currencies in 2014. With developments in blockchain technologies, Dell is aiming to boost its data structure business with the manufacturer of high quality storage devices.
While the hype around digital currency is increasing globally, several entities are planning to accept crypto as a payment method in exchange for their products and services. On the news of JP Morgan Chase Bitcoin, the founder of Dell commented that the blockchain networking technology is now underrated.
JP Morgan And Ripple Partnership
There are many who think Ripple is in partnership with JP Morgan as on 15 December 2021 Ripple appointed former JP Morgan (JPM) Chief Regulatory Affairs Officer, Sandie O’Connor, among its board of directors. So in that context, there is a prevailing question of whether XRP is a security.
Other digital currencies like Ethereum and Bitcoin have been deemed as being securities as they are highly decentralized. The ledger functioning of XRP is independent of Ripple, so it can be assumed that Ripple does not control XRP and there is no partnership between Ripple and JPM. The use of the JP Morgan blockchain was aimed at improving the transfer of funds between the financial institutions globally.
How To Purchase Digital Currency In India?
As of now in India, the investors can use several options to purchase or invest in Bitcoin and digital currencies from a renowned cryptocurrency exchange like WazirX, CoinBase, and BNS. If an investor wants to purchase Bitcoin, they are required to create an account in that exchange and they can buy their desired crypto. At the time of writing this, the Bitcoin price is $56,573.10 (11.10.2021, 02.33 GMT).
The above are some of the JP Morgan Bitcoin news. As per the latest announcements made by the American banking firm, JP Morgan chase Bitcoin to facilitate the better transfer of funds. This was announced by JP Morgan on 11 October 2021.