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jp morgan ceo jamie dimon has stated that bitcoin is worthless and this is nothing new over the last few years jp morgan and jamie dimon have been very critical back and forth with bitcoin in 2017 jamie dimon stated that anyone trading bitcoin would be fired and now in 2021 jp morgan stated that investors can put one percent of their portfolio in bitcoin despite calling it a poor but at this point we can't take anything jamie dimon or jp morgan says as truth whether it is good or bad yes these are the negative reports but we've also seen over the last year j.p morgan saying that gold will suffer as institutional investors buy into bitcoin so whether it's good or bad every day it's losing its validity because jp morgan has committed many major violations over the years just in 2020 jp morgan was fined 1.26 billion dollars for manipulating precious metals they manipulate markets not a surprise and that's not only it since 2020 jp morgan has been fined 35 billion dollars in penalties for major violations the list is long toxic security abuses mortgage abuses investor protection violation banking violation banking violation banking violation toxic security abuses the list goes on right so they keep coming out with these statements jp morgan jamie dimon but can we really trust them of course the answer is no now when it comes to the crypto space it's not as regulated as traditional finance in traditional finance you have to be very careful with what you say or you might be accused of market manipulation guys like elon musk for example i am not so sure he would put out the tweets that he puts out now if the crypto market was currently as regulated as traditional finance but it will get there this is no secret the crypto market will become very regulated as jamie dimon stated regulators are going to regulate the hell out of it speaking about bitcoin and cryptocurrency again not a surprise we have been speaking about this on this channel over the last year really everyone has been speaking about this it will be regulated but it won't be banned and federal reserve chairman jerome powell stated that the u.s has no plans to ban bitcoin and crypto right they want oversight they want to control it and most importantly they want to collect taxes from it so a huge difference between regulation and banning and at this point though it is almost irresponsible for anyone with wealth to not have at least one percent of their money or their assets in bitcoin jp morgan as we know even though they might say that bitcoin is a poor hedge they are still assisting their clients put in money or at least one percent or a small percentage into bitcoin and as billionaire investor bill miller stated bitcoin is now less risky at 43 000 than 300 because the asset and the space is growing it's gotten to a point where bitcoin is the national currency of el salvador that is absolutely insane and it continues to grow and it's likely that more countries will integrate bitcoin into their ecosystem so we had in the past that institutions and billionaires they weren't really buying bitcoin then over the last year we are seeing that companies are adding bitcoin to their balance sheet we have seen guys like kevin o'leary in the past wasn't a fan of bitcoin then over the last year he stated he'll put in one percent into bitcoin but now he has updated that stating that he wants to more than double his crypto holdings to seven percent so after watching a video like this we get very excited or bullish seeing how big money is getting into the space and how these statements from guys like jamie dimon are really losing their value there's really no credibility but at the same time remain calm because yes i do believe that bitcoin will reach extremely high numbers over the long term but in the short term who knows what's going to happen this is an emerging asset class and when you're dealing with an emerging asset class if it gains value over time it doesn't go straight up it goes up with a lot of volatility along the way right so with bitcoin i am very bullish on bitcoin i think it will reach extremely high numbers extremely high valuations over the next 10 to 20 years but because it is so volatile but at the same time i want to participate i make sure two dollar cost average dollar cost averaging for long-term investing is such an important concept if you don't know what dollar cost averaging is or maybe you know what it is you're familiar but you've never actually thought about using it i definitely would recommend that you go ahead and watch this guide on dollar cost averaging i do believe this is one of the most important videos on my channel when it comes to long term investing so be patient let's make money together over the long term like the video subscribe to the channel thank you for listening and i'll see you next time foreign
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