# 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.

- Published: 2026-07-10T05:23:55.075Z
- Canonical: https://polylog.news/crypto/2026-07-10/jpmorgan-says-the-larger-long-term-risk-to-bitcoin-is-privat
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Bitcoin Magazine](https://bitcoinmagazine.com/news/jpmorgan-says-the-real-threat-to-bitcoin), [Polylog editors](https://polylog.news)

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…

This story is for subscribers. Read it in full at https://polylog.news/crypto/2026-07-10/jpmorgan-says-the-larger-long-term-risk-to-bitcoin-is-privat (subscription information: https://polylog.news/pricing).