Friday, June 18

JPMorgan Is Suspicious of El Salvador’s Bitcoin (BTC) Move

jpm

Known as the largest bank in the USA, JPMorgan Chase & Co. states that it does not see an economic benefit in El Salvador’s acceptance of Bitcoin (BTC).

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JPMorgan said in a statement that it is difficult to see any economic benefits in the adoption of Bitcoin.

The bank also believes that this move by El Salvador may endanger its relations with the IMF (International Monetary Fund).

“The change will have unforeseen and unintended consequences. But if this is to be the start of a trend among smaller countries in a similar position, it can be quite complex.”

In its statement yesterday, the IMF said that El Salvador’s move could raise some financial and legal problems with this move.

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