Saturday, October 16, 2021
Home Crypto News Market Michael Saylor: "The Implicit Endorsement Of Bitcoin By Major Banks And Regulators...

Michael Saylor: “The Implicit Endorsement Of Bitcoin By Major Banks And Regulators Is Going To Accelerate The Collapse Of Gold And The Rise Of Bitcoin”

- Advertisement -

According to a report published by Market Insider, the JP Morgan research states that institutions’ investors view Bitcoin as an effective inflation hedge over gold.

Read: Bank Of America Report Shows 27% Of The United States Population Will Be Using Crypto In 2022



Microstrategy CEO, Michael Saylor’s comments came after JP Morgan said Institutional Investors Consider Bitcoin as an Inflation Hedge and favor Bitcoin over gold.

“The implicit endorsement of Bitcoin by major banks and regulators is going to accelerate the collapse of #Gold and the rise of #Bitcoin as the preferred safe-haven store of value for both institutional and retail investors.”

 

 

JP Morgan report writes:

“The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge. Institutional investors appear to be returning to Bitcoin perhaps seeing it as a better inflation hedge than gold.”

The bank also highlights two more factors that are driving institution investors interest:

“The recent assurances by US policymakers that there is no intention to follow China’s steps towards banning the usage or mining of cryptocurrencies.”

Read: SEC Chairman, Gary Gensler Confirms That SEC Has No Plans To Ban Crypto

Read: Federal Reserve Chairman, Jerome Powell Said Fed Has No Intention To Ban Bitcoin Or Crypto

and,

“The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador’s bitcoin adoption.”

Read: President Nayib Bukele Shares First Results Of El Salvador Mining Bitcoin With Volcanoes





Contrary to other analysts, JPMorgan did not mention the possibility of the approval of Bitcoin ETFs as a key element in the rise of BTC prices and investors’ interests.

- Advertisement -
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Realvision Founder Raoul Pal, “You Can Be Angry At Central Banks, Governments Or You Can Be Optimistic And Migrate To The New World Of...

RealVision founder Raoul Pal made important statements on digital currencies on Twitter. window.coinzilla_display = window.coinzilla_display || ; ...

El Salvador President, Nayib Bukele Says Citizens Are Using More USD To Buy Bitcoins

El Salvador President Nayyib Bukele shared two facts about the cryptocurrency wallet Chivo. window.coinzilla_display = window.coinzilla_display ||...

SEC Tacitly Approves First Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has approved the ProShares application to launch the Bitcoin Futures ETF. Trading starts on Monday, October 18th. Also...

Bitcoin Above $60K After Twitter CEO, Jack Dorsey Said Square Is Considering Building A Bitcoin Mining System

Jack Dorsey says that Square is “considering” building its own Bitcoin mining system using custom silicon and open-source software. Read: Vladimir Putin: “Cryptocurrencies Have A Right...

CFTC Fined Bitfinex And Tether To Pay $42.5 Million Over USDT Backing

The United States Commodity Futures Trading Commission (CFTC) has settled claims against Tether and Bitfinex, ordering the company to pay fines totaling $ 42.5...

Bank Of Japan: “The Digital Yen Should Be Compatible With All Payment Services”

Executive Director of the Bank of Japan, Shinichi Uchida, believes that the digital Yen should be as simple and convenient to use as possible,...

Morgan Stanley CEO: “I Don’t Think Crypto Is A Fad, I Don’t Think It’s Going To Go Away”

Morgan Stanley CEO James Gorman said that the bank's clients show little interest in cryptocurrencies, but expressed confidence that digital assets will remain for...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.