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The bitcoin price has topped $45,000 per bitcoin this month, soaring as hype around a BlackRock
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Now, alongside a surprise prediction Donald Trump could trigger a bitcoin price boom in 2024, San Francisco-based crypto asset manager Bitwise has forecast Wall Street giant JPMorgan will take a major step toward growing tokenized real-world assets to $16 trillion by 2030 next year.
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Jamie Dimon has led JPMorgan in the development of its blockchain technology while arguing … [+]
“Launching a tokenized fund in 2024 would allow JPMorgan to take advantage of the efficiencies on-chain assets can offer while entering a market whose growth is exploding,” the Bitwise team, led by chief executive Hunter Horsley, wrote in a 2024 predictions report.
“[JPMorgan has] been exploring blockchain technology for years, and recently tested tokenized portfolios on the avalanche
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Bitwise’s report pointed to a projection from the Global Financial Markets Association that the value of real-world assets tokenized on blockchains would grow from $5.5 billion to $16 trillion by 2030.
Earlier this year, BlackRock became the first Wall Street giant to use JPMorgan’s blockchain-based collateral settlement system, part of a plan that BlackRock’s chief executive has said will usher in “the next generation for markets.”
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The bitcoin price has surged this year, regaining much of the ground it lost during its 2022 price … [+]
However, while JPMorgan has been developing its Onyx blockchain platform and launched a corporate stablecoin called JPMcoin in 2017, chief executive Jamie Dimon recently told the Senate financial services committee that if he were the government, he would “close [cryptocurrencies] down.”
“I’ve always been deeply opposed to crypto, bitcoin etc.,” Dimon said in response to questions about how crypto is being used around the world.
Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
