JPMorgan says that Bitcoin Futures Could ‘Elevate Cryptocurrencies Into an Emerging Asset Class’

One of the top strategists of JPMorgan anticipates that the launch of bitcoin futures could turn cryptocurrencies into “an emerging asset class.”

According to CNBC, Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, stated:

“The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors.

Cryptocurrencies have the potential to grow further from here.

In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class

The value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here.”

Even if  CEO Jamie Dimon ignores Bitcoin, JPMorgan has been quietly considering offering its clients access to bitcoin futures following their launch on CME, particularly given bitcoin’s recent explosion into the mainstream financial discussion.

Written by Brad Chillum

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