Hate but love, this is the relationship between JPMorgan and Bitcoin in the last 8 years

JPMorgan, one of the largest financial companies in the world, is said to have started planning to make it easy for investors to own Bitcoin.

This move is quite surprising due to the past of JPMorgan, especially CEO Jamie Dimon, who often expressed his dislike for Bitcoin.

Hate but love, this is the relationship between JPMorgan and Bitcoin in the last 8 years

Before accepting the adoption of crypto and Bitcoin in 2021, the history of the relationship between JPMorgan and Bitcoin seems to have had a fair amount of "drama".

The Flow of JPMorgan and Bitcoin for the Last 8 Years

It all started in January 2014 when CEO Jamie Dimon stated that Bitcoin and cryptocurrencies were very bad protection assets.

He made the statement at the 2014 World Economic Forum, which was supplemented by a call to stay away from cryptocurrencies.

In November 2015 he continued his negative view of Bitcoin when he stated that Bitcoin would soon be stopped by the government. He stated,

“No government will support crypto currency. Big adoption will never happen. "

This statement was made in 2015 when Bitcoin was still at the price of $ 330 or around Rp.4.7 million.

In October 2016 JPMorgan started adopting blockchain with the Quorum network, a blockchain with a system similar to Ethereum.

At that time, JPMorgan felt that the adoption of this blockchain was a new strength for the company, even though it used the same system as crypto.

Dimon then made another attack against Bitcoin in September 2017 when he threatened JPMorgan traders who bought crypto.

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He went on to add that Bitcoin and the entire crypto market would soon crash and disappear, but that this had been proven wrong until recently.

Then in October 2017, vowed not to talk about Bitcoin again. But a few days after that statement he made another statement about Bitcoin.

He stated that people who buy Bitcoin will pay for the losses one day, adding to his attacks on Bitcoin.

Starting to change views

After threatening JPMorgan traders, in November 2017, JPMorgan stated that it is considering its investor's access to Bitcoin Futures Contracts.

In January 2018 after the Bitcoin price rose to $ 20,000 or around Rp.290.14 million, Dimon expressed regret for Bitcoin.

After that, in May 2018, JPMorgan reported that it plans to adopt crypto with the Co-President of JPMorgan who stated that crypto is a real asset.

In October 2018, after Bitcoin has officially reached 10 Years, Dimon again expressed his opinion about Bitcoin by stating that "he doesn't care anymore".

Around February 2019 JPMorgan stated that it was the first private financial institution to officially adopt digital currency.

In 2020, even though JPMorgan has started to warm up to crypto, CEO Jamie Dimon, still seems to reject the existence of crypto.

Although it has started to subside, he stated that he will not be interested in crypto and that its existence still needs to be regulated by the government.

But everything seems to have changed because in 2020, JPMorgan started paving the way for its investor allocation to Bitcoin.

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JPMorgan opens access to the investor's portfolio of 1% allocation to Bitcoin, to experience the benefits of Bitcoin safely.

But in 2021, things have changed because now JPMorgan has given access to its investors through managed funds that focus on Bitcoin and crypto.

So now it seems that JPMorgan's relationship has changed and has warmed up.

Even so, the news of this adoption has succeeded in being one of the sentiments that lifted the price of Bitcoin to rise again.

Now with so much adoption around Bitcoin, the price has managed to climb back up to $ 54,500.

For now Bitcoin is still seen moving strongly to recover after previously experiencing a sharp correction due to several things.

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