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26 July 2021

Many JPMorgan clients see Bitcoin as asset class, says senior exec

Many JPMorgan clients see Bitcoin as asset class, says senior exec


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A large number of JPMorgan clients see digital currencies like Bitcoin as an asset class, the company’s director of asset and wealth management Mary Callahan Erdoes said.

JPMorgan analysts have been closely monitoring the crypto market, with crypto expert Nikolaos Panigirtzoglou forecasting that Bitcoin will hit $145,000 as its long-term “theoretical target.” In late June, JPMorgan said that institutional investors had little appetite for buying the dip, with strategists reiterating that Bitcoin would be trading between $23,000 and $35,000 over the medium term.

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BTC gains 15% in 3 hours amid tight squeeze
published: 24 minutes ago
A sharp squeeze has seen Bitcoin quickly rally to test $40,000 for the first time in roughly six weeks, reclaiming its 50-day moving average in the process.

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cointelegraph.com
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