Amidst the ongoing bullish run of the equivalent rally, Bitcoin (BTC) has broken another major milestone in terms of market value against US banking giant JPMorgan.
On November 24, Bitcoin crossed the $ 19,000 mark for the first time since December 2017, breaking another record in market cap.
At time of publication, Bitcoin’s market value was $ 352 billion, up from $ 345 billion 24 hours ago.
According to Macro Trends, JPMorgan’s market cap closed at $ 349 billion on November 23. Earlier this year, JPMorgan’s market cap decreased to $ 258 billion.
CEO Jimmy Dimon has become a leading critic of Bitcoin, describing the prevailing cryptocurrency as “fraud” and “fraud” in 2017.
Daimon did not change its negative stance towards BTC, despite the growing bullishness and the large companies that switched to Bitcoin with PayPal. At the DealBook Online summit hosted by The New York Times on November 18, Dimon compared the central cryptocurrency to the blockchain owned networks with regulatory controls, saying, “Bitcoin is a little different and this is not my cup of tea.”
Despite the CEO’s skepticism about Bitcoin, JP Morgan told investors in October 2020 that the potential long-term rally of Bitcoin was significant, indicating that the price of bitcoin would double or triple in the long term.