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Jamie Dimon, the CEO of JPMorgan Chase & Co., the world's largest bank by market capitalization, publicly declared less than seven years ago that he would fire "in a second" any bank trader who traded the bitcoin fraud.
A month later, BlackRock, Inc., the world's largest asset manager, announced through its CEO, Larry Fink, that bitcoin was the "index of money laundering."
What has changed in August 2022 for both institutions and the majority of firms that once harshly criticized bitcoin and its protocol to now include it in their portfolios, call it a store of value, and promote it?
JPMorgan employees who trade bitcoin are no longer fired, but instead generate multi-million dollar revenues for the bank as well as millions in bonuses for themselves. Furthermore, JPMorgan has a specialized research team dedicated to cryptocurrencies and their protocols.
BlacRock, for its part, not only encourages but also profits from money laundering (sarcasm intended), having recently launched its first direct Bitcoin investment product. Despite the recent price drop, the new private Bitcoin trust will meet the needs of BlackRock's large institutional clients. Also, this is the company's second big move in the past few days. A few days ago, it teamed up with Coinbase, which is one of the biggest cryptocurrency exchange platforms in the world.
I invite you to educate yourself and benefit from the current shift in how bitcoin is perceived as a valuable asset worthy of investment not only by corporations but also by individuals. And if you, like Dimon or Fink in the past, have criticized Bitcoin, I encourage you to learn more and perhaps come to a different conclusion.
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Cheers to your freedom!
Víctor Tapia
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