10 thoughts on “JPMorgan Publishes The “Bitcoin Bible”

  1. Apocrypton February 14, 2018 / 6:59 am

    Just be aware that there have been a lot of fake JP Morgan stuff the last few days, I can’t find any reference to this outside of a few personal “crypto news” pages. Also, someone tried to make a fake JP Morgan token and “leak” the details to make it appear they had made their own crypto. Zerohedge had a post about JP Morgan reversing their stance on BTC earlier, and the source was his own Twitter page.

    Not saying 100% fake for sure, I only did a cursory search, but this would be a complete 180 and lots of fake JP Morgan stuff is popping up recently so this may be too. This hurts the crypto worlds image if its fake, people may be thinking you are helping raise the price by convincing people JPM backs crypto, but in reality it’s just shady and will make people less likely to buy.

    Edit: Make sure you check the authors and sources before accepting something as fact, I’ll need a statement from JP Morgan before I believe any of this.

    Next day edit: I was incorrect, this is real. There are some negative things in it that people kind of glossed over, but it’s a remarkable change from previous JPM positions.

  2. boxhit February 14, 2018 / 6:59 am

    I was incredibly skeptical of these claims, so I emailed the authors on the document, and received a response:

    > Your request was routed to me. On Friday, J.P. Morgan Research published the below named report and Joyce and Jan are lead authors.

    I’m starting to think that there is some legitimacy to the article.

  3. GalacticCannibalism February 14, 2018 / 6:59 am

    “We have officially gone from “Bitcoin is a fraud” to “cryptocurrencies could potentially have a role in diversifying one’s global bond and equity portfolio”…

  4. dinglemuncher February 14, 2018 / 6:59 am

    Alright since everyone here clearly got the tinfoil hat memo when they woke up this morning, there’s nothing fake or dubious about the piece. It’s a proprietary research report that’s only available to clients of JPM (hence why you won’t find it publicly…yet) just like the thousands of reports they publish on various sectors of the global markets / econ & rates strategy / quant factors / a million other topics. All midsize & up banks have private research sites and quite a few have published similar ‘Crypto overview’ reports just like this one.

    Keep in mind the research function of a bank is not necessarily a product of the CEO’s personal views, rather it’s a sales tool for generating trading business with a client. J.D. could bash NFLX’s business model into oblivion, but if the analyst who covers NFLX is really accurate/ puts out great ideas, clients may be more willing to trade w/ them rather than Goldman/BofA etc.. the next time they want to execute a large NFLX trade.

    There’s really nothing in it that most well-informed bitcoin enthusiasts wouldn’t already know – it’s basically a ~60pg ‘intro to blockchain & crypto’ piece for those that aren’t really up to speed on the space.

    Here are screenshots of the ToC and Exec summary portions:


  5. ultramari0 February 14, 2018 / 6:59 am

    And hear I thought Bitcoins whitepaper was its Bible

  6. KnowledgeBot February 14, 2018 / 6:59 am

    This is the first thing that pops up when you search JPM bitcoin bible on google and if I didn’t read through an entire paragraph to find the “I was wrong,” part I might still be wondering whether or not the bitcoin bible was real. Is there some way to remove this from appearing at the top of Google searches for this subject? It may mislead people.

  7. Chickenclub February 14, 2018 / 6:59 am

    Does somebody knows where I can download the report?

  8. Rubensinn February 14, 2018 / 6:59 am

    Is it possible to get/buy full version of the document?

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