Breaking 🚨 JPMorgan accused of market manipulation
In the past two weeks, JPMorgan, BlackRock, Vanguard, and Charles Schwab have all changed their positions on Bitcoin.
• JPMorgan sold a significant amount of $MSTR stock last quarter and has repeatedly criticized Bitcoin. Now, they are issuing Bitcoin-backed bonds.
• Vanguard had previously stated that it would never allow Bitcoin ETF trading on its platform, but this week announced the launch of Bitcoin ETF trading services.
• BlackRock's CEO referred to Bitcoin and cryptocurrencies as a "place for money laundering" in 2017; today, he admits he was wrong and notes a significant shift in his stance.
• Charles Schwab, which previously dismissed cryptocurrencies as "pure speculation" in 2019, has announced that it will allow Bitcoin trading on its platform starting in 2026.
What caused this sudden change?
In 2017, JPMorgan CEO Jamie Dimon called Bitcoin a "fraud," but then JPMorgan bought Bitcoin that weekend when the price fell over 20%.
Now, JPMorgan is selling $MSTR stock, raising margin requirements from 50% to 95%, pushing to exclude this strategy from the MSCI index, and has a history of manipulating Bitcoin prices, calling for a price drop, and announcing the issuance of Bitcoin bonds after a 35% price decline.
It seems they all hope Bitcoin prices will fall so they can scoop up more chips before the next Bitcoin bull market arrives.
In any case, this is very good news for Bitcoin and Bitcoin holders.
