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US bank CEOs are likely ‘very afraid’ of bitcoin, says wealth advisor

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US bank CEOs are likely ‘very afraid’ of bitcoin, says wealth advisor

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5 Comments


  1. zappadoing

    September 20, 2017 at 3:50 pm

    meanwhile, they’re buying

    Reply

  2. bitcoinxbt

    September 20, 2017 at 3:50 pm

    no shit

    Reply

  3. noone111111

    September 20, 2017 at 3:50 pm

    It doesn’t even make sense to be afraid since at any time they could accumulate large amounts of it without even blinking.

    Imagine JPM buys $6.5B in BTC. That would mean they would have 10% of BTC at today’s levels. Keep in mind that is only like 3 months of cash flow for JPM.

    Now, for banks to be afraid of it, it would have to go up to many trillions in market cap. What is 10% of many trillions? It’s hundreds of billions. It’s possibly trillions.

    So big banks could own vast amounts of the total BTC in circulation, and they’d still be doing all the same stuff they do now — trading, lending, advising, wealth management.

    Big banks deal in assets, not necessarily fiat. If the world changes to debt and credit and financial instruments tied to BTC, JPM will start dealing in that. It’s not hard to do.

    Reply

  4. All_Is_good_with_you

    September 20, 2017 at 3:50 pm

    Good, let’s destroy these fuckers. Ps – hedge yourself with a bit of Monero/XMR

    Reply

  5. C1aranMurray

    September 20, 2017 at 3:50 pm

    Can someone explain to me why a bank would be threatened by Bitcoin?

    Reply

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