Analysts at the prestigious American financial holding JPMorgan have voiced a rather unconventional view on the current risks for the first cryptocurrency market, stating that Bitcoin sales by the corporation Strategy are not at all the main long-term threat to the asset's price. According to experts, a much more serious impact will be caused by the mass transition of traditional banks and large investment funds to the use of closed, private blockchain platforms. Institutions are increasingly making a conscious choice in favor of their own isolated networks, abandoning public infrastructure, which radically changes the balance of power in the digital economy.

JPMorgan representatives explain this trend by the fact that closed solutions allow financial giants to strictly comply with client verification requirements, ensure maximum transaction confidentiality, and fully meet strict regulatory standards. However, analysts warn that such capital migration could significantly limit the inflow of fresh funds into open networks, depriving assets like Bitcoin and Ethereum of liquidity. A significant portion of operations with tokenized real-world assets and digital payments risks remaining within the banking infrastructure. At the same time, experts allow for an optimistic scenario: if Bitcoin finally consolidates its status as a reliable inflation hedge, its value will stop depending on the popularity of public blockchains and will retain investor support regardless of the outcome.

Against the backdrop of these macroeconomic concerns, positive notes are brought by the management of Grayscale. Head of Research Zach Pandl expressed confidence that the recent sale of nearly three and a half thousand Bitcoins by Strategy – the largest public corporate holder of the first cryptocurrency – could actually play into the market's hands. According to him, competent corporate treasury management can strengthen the trust of institutional investors in the company's financial model and contribute to the formation of a more stable and reliable price floor for Bitcoin. Thus, while some analysts see a threat in banks moving to private networks, others find in the actions of large corporations a foundation for long-term growth and market stabilization.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.