JPMorgan Says the Larger Long-Term Risk to Bitcoin Is Private Blockchains, Not Strategy

The bank frames Strategy's Bitcoin sales as a short-term worry while institutions adopting closed ledgers pose the deeper threat.

Analysts at JPMorgan argue that the more serious long-term risk to Bitcoin is the adoption of private blockchains by banks and institutions, not selling pressure from Strategy, the corporate holder formerly known as MicroStrategy. The bank…