JP Morgan sent its private high-valued investors a report on Bitcoin. In fact, this report explains how cryptocurrencies are considered an untapped industry, that can be highly beneficial in the long run. Seeing that this report got exposed to the public, will Bitcoin price go up?
HNWI is a well-known acronym in the financial world, which means High Net Worth Individuals. They are usually people whose wealth exceeds USD 10 million. JP Morgan sent a private report for all its HNWI back in February 2021. This report details some facts and potentials of cryptocurrencies, and Bitcoin in specifics. In fact, they obviously want their elites to get this information first.
What Did JP Morgan’s report talk about?
The report itself is an educational document on cryptocurrencies. It explains the risks involved in cryptocurrency investments, and outlines the opportunities that come with it. Also, it breaks down three potential valuation models:
- Metcalfe’s law: This law states the square root of the total BTC users concludes its valuation. This amounts to USD 21,667 per 1 Bitcoin.
- Gold value: this valuation applies the current value of Gold to the maximum supply. This results in half a million USD valuation per 1 BTC
- Global Money Value: this takes the global money value and applies it to the total supply of 21 million BTC. This results in a valuation of USD 1.9 million per BTC
One cannot but conclude that this report emphasizes the HUGE POTENTIAL in getting in crypto investing. This potential comes even at the current price of USD 50,200 per Bitcoin. Sending a private memo to your important clients to explain about a potentially highly-rewarding investment, is a piece of definite good news for the cryptocurrency community. On the other hand, it is very normal to outline the potential risks involved with dealing with cryptocurrencies. All financial advice come with disclaimers.
JP Morgan posts Blockchain Related Job Positions
In another scoop, JP Morgan did in fact post around 34 available openings on its job board. Those openings are all blockchain-related and spread between the US, India, and Singapore. Growing blockchain demand definitely shows an advancement in the crypto sphere. This alone indicates an even better future ahead of the whole cryptocurrency market. Bitcoin should definitely go back on track after it finishes consolidating.
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