Bitcoin hater JPMorgan financial firm holds Bitcoin Spot ETF shares

JPMorgan reported that they own Bitcoin spot ETF shares, even though its CEO hates Bitcoin & Crypto.

JPMorgan Chase & Co. is a United States-based international financial services company. This company is headquartered in New York City and incorporated in Delaware. JPMorgan is the largest bank in the US and the world’s largest bank by market capitalization. 

In a recent filing with the United States Securities and Exchange Commission (SEC), JPMorgan disclosed that the company is holding currently $1 million worth of Bitcoin spot ETF products. 

Some crypto enthusiasts noted that JPMorgan has been silently buying Bitcoin via spot ETF products, while its CEO Jamie Dimon multiple times slammed Bitcoin & cryptocurrencies.

For instance, once Dimon said in front of Congress he would shut Bitcoin down if he were the government.

This is a good thing to see that a company is moving toward Bitcoin adoption via traditional methods but at the same time, all the Bitcoin & Crypto enthusiasts need to understand that they should never think that anyone going to ban these digital assets because these are backed by world community support & doesn’t need any government recognition. 

The current trade price of Bitcoin is $60,963 & this trade price is 3.6% down over the last 7 days.

Despite the high bearish & low bull sentiments, former Twitter (now-X) CEO Jack Dorsey predicted that Bitcoin is going to hit a $1 million trade price by 2030. 

Dorsey’s company Block Inc. currently engaged in the final phase of the production of Bitcoin mining rigs with a new chipset, manufactured by the Block company.

Read also: QCP Capital says the upcoming US presidential election might push Biden toward Crypto support