Bitcoin could combine gold into a solid, long-term way to store wealth as the cryptocurrency gains users and value , which JP Morgan analysts believe could evolve into something resembling a more traditional asset class.
This move to join more formal financial markets "has the potential to elevate cryptocurrencies to a new asset class," said JP Morgan analyst Nikolaos Panigirtzoglou.
The post is particularly surprising because JP Morgan CEO and chairman Jamie Dimon has long been a critic of bitcoin.
Earlier this week, JP Morgan analyst Nikolaos Panigirtzoglou publicly stated that bitcoin could become an emerging asset class, given that the CBOE and CME, the world's two largest options exchanges, will list bitcoin futures by mid-December.
"The prospective introduction of bitcoin futures, particularly by exchanges, has the potential to increase the legitimacy and thus the attractiveness of the cryptocurrency market for both retail and institutional investors," Panigirtzoglou said.
He emphasized that as the acceptance of bitcoin as a store of value increases, the market valuation and price of bitcoin are likely to increase proportionally.
Bitcoin Futures Exchanges will guide investors in the financial market to bitcoin.
This week, several respected analysts, including Satoshi Citadel Industries (SCI) co-founder Miguel Cuneta, explained that bitcoin is just beginning to transform the financial sector, and the price of bitcoin, which is currently around $11,500, will increase exponentially.
"Over a third of a trillion dollars. That's the total number of cryptocurrencies in the world. 165 billion dollars belongs to Bitcoin alone, which shows how dominant network effects can be. With Bitcoin technology, the power to create money has been granted to every person on earth and taken away from kings, oligarchs and governments "- said Cuneta....
Bitcoin, seemingly a good thing. But the thing is also that it will be the basis for a beast system with no cash:
“(15) And it was given to him to breathe a spirit into the statue of the beast, so that the statue of the beast would speak and cause all who did not worship the statue of the beast to be killed. (16) He also causes everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, (17) and that No one can buy or sell unless there is a, that is, the name of the animal or the number of its name. (18) This is where wisdom is needed. He that hath understanding, let him calculate the number of the beast: for it is the number of man. And his number is six hundred and sixty-six. " Revelation 13
Digital tattooing plus cashless trading based on the Bitcoin system gives us the basis for the Biblical Great Tribulation. Without this system it will be impossible to survive, but remember that there is still God and those who do not take the mark of the beast may be miraculously saved. Others, on the other hand, will be subject to beheading. Luke the evangelist wrote to pray every day to escape this.
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I made virtual but real money in the real stock market from £100,000 to £5,000,000 in about 3 months as I recall.
I don't recommend it if someone doesn't want to lose their life. It is a very strong trap for spiritual life with God!
I know people who are already putting everything into it. One person calls me out and tells me, take the investment and what He says to, how much will it grow so it happens. I tell him that easy money like that will change me and I don't want it. And He doesn't understand it completely.
The heart is changed, work is not wanted, family broken, etc. Easy money is not for the Christian.
The foundations of a new era. An era of beasts.
Adam, anyone can earn on the virtual 🙂 I can also "make a few thousand euros without any problem in a few hours a day. Unfortunately, but if you want to operate with real money, which you have to earn, you have to reckon with its loss, which causes a lot of stress and thus making wrong decisions with the desire to quickly recover. Is it easy money? Well, it is not hard money and you really need time, patience, learning and knowledge to become an earner from a capital provider. It is a job like any other and I do not think it is unworthy of a Christian. Of course it can be a vortex and it consumes a person's time spent in front of the screen and this is a danger. You have to control it and work according to a plan that you determine and stick to, and then you will find time for everything. I went through each stage, so I write from experience.
Could it be the new gold? except that while gold may run out, it doesn't...
Which, on balance, sadly creates grounds to get swayed by it... :/
Bitcoin has a finite amount. It will be mined whole in some year
There is a finite number of bitcoins to mine just like any other cryptocurrency. I observe what happens to people and what emotions cause each new jump in the price of this currency. Excitement or even ecstasy when the price rises panic, uncertainty, anger when the price corrects downward. Sooner or later the bitcoin bubble will burst leaving most people with holes in their pockets. It's only a matter of time before something new and better is introduced to enslave the world because bitcoin is just a snack served on a golden plate for testing. Some countries are already introducing their cryptocurrencies 😉