It is barely a week after Tesla, one of the leading electric car manufacturers announced it had invested $1.5 billion in Bitcoin and the president of JPMorgan Chase & Co. Bank today has said in an exclusive interview with CNBC that the bank will offer Bitcoin trading if its clients demands for it.
Could we be seeing another boost for Bitcoin, which has been on a relentless bullish rally since November 2020? Well, to date, several large institutions have already shown they have faith in the digital currency and it could just be a matter of time before more institutions finally recognize the opportunities that Bitcoin offers.
In an interview with CNBC, Daniel Pinto, the president and COO of JPMorgan, said, “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 demand isn’t there yet, but I’m sure it will be at some point.”
From Pinto’s point of view, Bitcoin is set to become a sought-after investment asset across the globe and the bank shall not be left behind as others jump onto the ship.
Today’s utterances by the JPMorgan co-president comes after the bank held a meeting with thousands of sales staff and traders last month where the bank was asked when it shall get involved with Bitcoin. And during that meeting, Pinto struck an optimistic tone.