No matter what the haters of the cryptocurrency and blockchain industry have to say, the industry is growing bigger and better with every passing day. In the beginning, almost every financial institution seemed to have had opposed the idea of adopting crypto-blockchain technology.
However, in recent years, crypto-blockchain technology has been massively adopted by financial institutions from the entire world. At present, crypto-blockchain technology adoption is at the top of the priority lists for some of the major economic countries.
Countries such as China, Japan, Georgia, and France are already in the process of testing their CBDC(s). The main reason for the crypto-blockchain industry’s high popularity and recognition is that it has not remained limited in the financial sectors. Over the course of time, the crypto-blockchain industry has made its place in the sports, e-sports, health, tourism, and music industries.
This is the reason why the crypto-blockchain is gaining enormous mainstream adoption from major financial institutions. Back in September 2020, it was PayPal whose integration of Bitcoin (BTC) into its platform paved the path for the crypto-industry towards mainstream adoption.
Now that the crypto-blockchain industry has gained so much success, the industry has successfully gained the attention of major financial institutions. One of the major financial institutions that had its perception completely changed the crypto-industry is JPMorgan.
The major financial firm had their fair share of concerns with the crypto-blockchain industry. However, after PayPal’s announcement and the industry’s worldwide success, JPMorgan’s perception is also changing around the industry.
Just recently, one of the major Insurance and Financial Services firms ‘MassMutual’ announced its acquisition of a large quantity of Bitcoin (BTC). The firm announced that it has invested $100 Million into purchasing Bitcoin (BTC).
Once the confirmation of MassMutual’s recent Bitcoin (BTC) purchase made it to the news, JPMorgan was the first to comment on the recent developments. It stated that MassMutual’s recent investment in Bitcoin (BTC) shows how much success and mainstream recognition it has gained in recent years.
One of JPMorgan’s strategists predicted that if more investments keep coming to Bitcoin (BTC), in time the entire cryptocurrency will grow further ahead of any other technological industry.
On December 11, 2020, Nikolaos Panigirtzoglou along with other strategists at JPMorgan commented on Bitcoin’s economic situation. They stated that there was a time when Bitcoin (BTC) investments were limited only to individuals and family offices.
However, the demand and investments in the Bitcoin (BTC) space have started growing significantly. With so much success and growth, Bitcoin (BTC) has now become a center of investment of major corporations and institutions.
Similar to MassMutual, there are other Insurance and Pension funding institutions that are now investing in Bitcoin (BTC).