The Double Standard of JPMorgan

Many investment companies like Fidelity Investments, BlackRock, and JPMorgan are making strong forays into the world of crypto. Fidelity is the latest of the bunch to get into crypto, but they announced that the company will be offering crypto as assets to 3 million of their retail traders and included a couple of crypto offerings in their investment plans including those that manage 401Ks.

The recent statement by the CEO of JPMorgan is preposterous

Jamie Dimon, the CEO of JPMorgan, recently made a statement saying that cryptocurrencies are like Ponzi schemes and added that many investors should avoid them as fire. However, JPMorgan’s CEO is likely forgetting that his own company has a huge stake in Bitcoin with its special fund that focuses on investing in BTC and ETH.

Such statements were also parroted by many other investment fund managers also parroted such statements, including the CFO of BlackRock who said something similar during his speech at the conference dedicated to digital assets held in the SEA region. During his speech, he said that cryptocurrencies are unreliable investments that will not be around in the long run. However, his company is also heavily invested in crypto.

Some conspiracy theorists are already talking about the desire of some large institutions to talk down Bitcoin and reduce its price so that they can easier obtain more coins for themselves. Financially, it does not make sense, but the two-faced nature of statements by CEOs and CFOs of large investment management companies that are focusing on moving their capital into the crypto domain while talking it down is quite appalling.

A good hedge against inflation

Whether you believe that the US government is capable of dealing with the ongoing recession or not, the truth is that you can bet against inflation by simply purchasing crypto that should be very resilientpreciselyy against inflationary tendencies. The Federal Government is trying with all its might to avoid saying the word “recession” aloud, but it is what it is.

The whole world is experiencing an apparent and palpable economic recession. It is only logical that many companies want to hedge against risks.

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