The three major US institutions, the Federal Reserve, Goldman Sachs, and JP Morgan Chase, have repeated their views on Bitcoin, and the theories behind their views are completely different. Some people say that the U.S. economy or the world economy is actually the most important financial institution in the world under the influence of the Federal Reserve; Goldman Sachs is the most important unit in the U.S. investment community. Some people say that this institution is the U.S. National Team; JPMorgan Chase Bank is the U.S. The boss of the banking industry. These three have always been the three most important institutions in the US financial industry. We can observe the changes in world finance by observing the perspectives of these three institutions on Bitcoin.
The Fed has long believed that Bitcoin does not need to be worried. When the Facebook stablecoin white paper came out in June 2019, someone asked the Fed whether it was worried about Bitcoin? The chairman of the Federal Reserve said no, because the market value of Bitcoin is too far away from the market value of the U.S. dollar and will not affect the U.S. dollar at all. This view changed until February 2021, when the Federal Reserve publicly admitted that Bitcoin is challenging the US dollar. And Bitcoin’s challenge to the U.S. dollar lies not in its market value, but in its liquidity. In terms of market value, Bitcoin really cannot compare with the U.S. dollar, but in terms of liquidity, Bitcoin is already challenging the U.S. dollar. Even the former president of the United States admitted this fact.
Goldman Sachs’ view
It was originally not optimistic about Bitcoin for a long time, but at the beginning of 2021 it turned to be optimistic again, and considered it a new type of asset. However, it has changed in recent June and it is not recommended to customers. Repeatedly 2 times.
JPMorgan Chase Bank’s view
We talked about the views of JPMorgan Chase Bank last week. They also kept looking down until they changed their views, and Bitcoin began to fall. But in recent months, they have been bearish on Bitcoin. So JPMorgan Chase Bank changed its view twice.
These three important financial institutions in the United States have been changing their views on Bitcoin or Crypto tokens. And the reasons for each change of opinion are different from the previous reasons: 1) At first, I turned a blind eye and looked down on Bitcoin; 2) Later, I was shocked by the viability of Bitcoin and changed his attitude; 3) Later, I found out. Bitcoin will affect the position of the US dollar in the world and change attitudes again. If Bitcoin continues to challenge the U.S. dollar, the world monetary system may change.
The last change was based on the influence of Princeton University’s Crypto currency zone theory in 2019. At this time, the world currency competition is already 3 yuan competition. The situation is more complicated than before. From the recent voices of the European Central Bank and the Bank of England, they are more worried about the stablecoin that Facebook has anchored to the US dollar.