https://cointelegraph.com/news/jpmorgan-will-get-into-bitcoin-at-some-point-says-co-president
JPMorgan Executives Expect to Explore Bitcoin 'At Some Point'
Crypto Specialist – Harry
JPMorgan co-chairman Daniel Pinto said that the new appetite "isn’t there yet" for the company to get into Bitcoin, but he's confident that "it will be at some point."
Big U.S. investment firm JPMorgan Chase are expressing interest in starting to explore buying Bitcoin, co-chairman Daniel Pinto claims. The executive informed CNBC Friday that JPMorgan's decision to launch Bitcoin investment services will rely on the customer's appetite for Bitcoin trading. While current demand is not high enough, Pinto is optimistic that it will continue to grow:
“If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved…”
The new comments from Pinto reflect some bullish signs that have been emerging with JPMorgan for a while. In an internal call in January, JPMorgan's global business chief Troy Rohrbaugh publicly admitted that the bank's own workers were gradually wondering about the bank's crypto ambitions. Pinto had already said that he was open-minded and curious about buying Bitcoin, sources familiar with the situation confirmed.
JPMorgan's proposed shift to Bitcoin is somewhat ironic, given that Jamie Dimon, CEO of the firm, is known for his hostile attitude against Bitcoin.
In September 2017, Dimon named Bitcoin a "fraud," contrasting the world's biggest Blockchain to a "tulip mania" and expecting a huge crash. At this stage, Bitcoin had been priced near $3,500. Three months later, the digital coin reached $20,000—even as it entered the multi-year bear market soon afterwards.
Bitcoin surpassed JPMorgan at $352 billion in market capitalization in November 2020. The achievement came soon after Dimon likened Bitcoin to proprietary blockchain networks with regulatory restrictions, saying, “Bitcoin is kind of different and it’s not my cup of tea.”
In the past, JPMorgan analysts have given mixed messages about Bitcoin. In October 2020, JPMorgan allegedly indicated that Bitcoin's price will double or triple over the long term. Several months later, JPMorgan economists John Normand and Federico Manicardi concluded that Bitcoin was the least efficient hedge during times of acute market tension.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
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To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards