Jamie Dimon(CEO of J.P. Morgan) said a couple of months ago that Bitcoin and cryptocurrency was a "fraud". He later apologized for his incorrect assessment, and now just weeks later, his very own bank is admitting that cryptocurrency is a direct threat to their business model.
This is a huge change considering what their stance was just a few short weeks ago, and J.P. Morgan isn't the only bank to admit that cryptos are a threat. Bank of America also released similar statements just a couple of days ago.
It seems like the mainstream media was in full denial when it came to Bitcoin and other cryptocurrencies. I feel as if the media worked together with some big government to try to crash the market, but it didn't work as well as they had thought it would. Now, it seems as if the mainstream media and big banks are starting to accept the fact that crypto is here and here to stay.
A Goldman Sach's backed start up(Circle) just purchased Poloniex, and many critics of crypto are starting to learn about the underlying technology behind them and changing their minds.
I think that this year and the next few years will be huge for crypto, and I think that it is about time for cryptocurrency to truly start breaking into the mainstream. I am not sure of everything that will happen to get it there, but I think that it is inevitable.
To the moon,