JPMorgan’s Analysts Are Skeptical About the Bitcoin Adoption in El Salvador
Recent news from El Salvador about acknowledging Bitcoin as a legal means of payment were met in the crypto community with joy and congratulations. However, in JPMorgan they believe this step was overrated and probably won’t lead to the economical thriving of the country.
JPMorgan’s analysts shared their conclusions about it in the official note for the investors. In this note, they mentioned the possible problems with the IMF that El Salvador may face after they legalize payments in Bitcoin. This decision is oriented on the future growth but won’t help solve the problems that already exist.
JPMorgan’s specialists are seriously concerned about bitcoinization becoming a trend among the developing countries. They still don’t believe Bitcoin is ready to become a relevant means of payment because of many unclear points about its regulation.