A Bank known as JP Morgan bank has given an educational desk to their clients for the purpose of helping them to appreciate the potential, basics and risks that are attached to Bitcoin and Cryptocurrencies
The Block that got the deck, opined that it was done in February and was shared all over Asia and Europe because the price rally of Bitcoin has brought the attention of Financial Institutions and investors
There are vital and pertinent topics that are covered by the Deck and they are basics of Bitcoin, the implications that arises when Bitcoin portfolio are held. It has also been posited by the bank that the desk is mainly premised on the basis of information.
Also, it is germane to state that JP Morgan Securities LLC are not involve in form of any type of virtual currencies, nor do they advise, endorse , trasnsmit sell or transact on any form of currency.
The desk reveals how the huge bank is customer oriented and feels that there is need to give response to the its numerous clients that are having interest in digital assent class. Also it is pertinent to state that JPMorgan bank as an institution is becoming interested.
Surpisingly, just last month, the co-president stated that they may involve their rim, if there is high demand for it.
In one of its slide, which shows ‘How others are valuing crypto?’ three commonly used metrics by market participants were broken down by the bank. In a slide entitled “How others are valuing crypto?” the bank broke down three commonly used metrics taken by market participants and stated that a major upside may be possible as regards to Bitcoin.
The bitcoins per-coin valuation will be at $21,667, under the Metcalfe’s law, which stated that the value of network is proportional to the square of the number of users.
If comparing the current global value of gold to bitcoin by using the 21 million max supply of bitcoin, then bitcoin’s valuation would be at $540,814. Finally, if applying the global value of money supply to the max supply of bitcoin, its value would be $1.9 million.