🚨 #BreakingNews: JP Morgan's research report indicates that the recent surge in BTC is attributed to a substantial influx of institutional investors, with CME BTC futures, mainly used by institutions, at its highest position level this year. The report also highlights the optimism surrounding the approval of a BTC spot ETF by the SEC. 🏦📈 #JPmorganAnalysis #CryptoInstitutionalInvestment 📢📊

🚨 #BreakingNews: JP Morgan, the largest US bank, suggests that the recent BTC surge is driven by a substantial influx of institutional investors, with CME BTC futures, favored by institutions, at their highest position level this year. Additionally, a notable increase in BTC whale wallets points to institutional accumulation, marking a shift from previous retail-driven bull markets. Optimism also grows for SEC approval of a BTC spot ETF. 🏦📈 #JPmorganAnalysis #CryptoInstitutionalInvestment 📢📊

JP Morgan CEO reiterated his stance that Bitcoin is “a fraud.”

“If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency.

He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value.

“If it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,” Dimon said. “To the extent crypto is accessing certain blockchain things, that might have some value.”

#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earn🌐 $BTC