The battle lines over bitcoin’s future have been drawn again…
On one side is uber skeptic JPMorgan Chase CEO Jamie Dimon.
On Wednesday, Dimon spoke at a U.S. House Committee Oversight hearing. During the meeting, he once again derided bitcoin.
On the other side is bitcoin maximalist and billionaire Microsoft Strategy co-founder Michael Saylor, who continues to buy the dip.
On Wednesday, Saylor tweeted:
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per bitcoin. As of 9/19/22, MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.”
Like us at PBRG, Saylor is long-term bullish on bitcoin. He believes it could return to its $68,990 peak “sometime in the next four years.” And $500,000 in the next decade.
So, which side should you believe?
If actions speak louder than words, we’ll put our money on Saylor… and JPMorgan.
While Dimon may be a longtime crypto critic, his company sure isn’t.
In 2018, JPMorgan established the Blockchain Center of Excellence… A year later, it launched JPMCoin – a stablecoin representing the dollar… And in 2021, it started offering clients bitcoin exposure.
More recently, the Wall Street titan said there’s a “new” way to make money in the cryptocurrency market: Staking.
Per a JPMorgan report, staking will gain traction as a source of revenue for institutional and retail investors alike… and we agree.
In fact, here at PBRG, we’ve recommended staking what we call “Tech Royalties” as far back as 2018…
If you’re not familiar, Tech Royalties are similar to a traditional royalty payment or stock dividend…
Just like a musician receives a royalty payment every time someone broadcasts their music, Tech Royalties pay their holders as the underlying crypto grows…
But instead of being paid in cash – like a royalty or dividend – the holder receives more of the underlying crypto.
It’s a strategy that Daily editor Teeka Tiwari’s subscribers have used to turn a few hundred dollars into thousands… And in the last 90 days alone, three of those recommendations have been up as much as 90%, 145%, and 147%.
I can’t think of any other corner of the market that consistently offers those kinds of returns in such a brief period…
And thanks to the Fed’s rate hike this week, Teeka believes that staking $250 each into five small cryptos could return more than $10,000 in monthly crypto income.
That’s why Teeka held his first LIVE crypto event in over six months this past Wednesday…
There he shared details on the five cryptos I mentioned above… And even gave away the name of his No. 1 pick in the group.
For a limited time, you can watch a replay of Teeka’s event right here. But please don’t wait…
This video won’t be online for long… and as more institutions pour money into staking, some of the biggest rewards will have already passed.
Editorial Director, Palm Beach Daily