According to JPMorgan's Gross, cryptocurrency is "essentially nonexistent" for large banks.

in learn •  2 years ago 

According to a senior investment strategist at JPMorgan Asset Management, money managers who have avoided the numerous ups and downs of cryptocurrencies may be feeling relieved for having done so.

According to Jared Gross, the bank's head of institutional portfolio management, most large institutional investors treat cryptocurrencies as if they don't exist as an asset class in this week's episode of Bloomberg's "What Goes Up" podcast. "The volatility is too high, and there is no inherent return that you can count on.

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on this week's episode of Bloomberg's "What Goes Up" podcast, according to Jared Gross, the bank's head of institutional portfolio management. "The volatility is extremely severe, and the absence of a clear-cut intrinsic return makes it very difficult."

In 2020 and 2021, cryptocurrency values increased, helped in part by a number of established financial companies entering the market or at the very least endorsing it. For those who were interested in cryptocurrencies, this was a significant event since they felt that this kind of embrace validated the fledgling sector.

But as the Federal Reserve and other significant central banks across the world hiked interest rates to combat historic inflation, digital assets have suffered greatly this year.

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