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Just this year, JPMorgan CEO called crypto is a ‘hyped-up fraud’, a ‘waste of time’ and 'pet rock'. Yet we see JPMorgan launch a network with JPM Coin, which recently went live, that mimics real crypto but it's private and centralized. The issue is not crypto but about them having ... See More power and control - JPMorgan's CEO has had a lot of negative things to say about crypto time. He has said very very many anti-crypto things but even just this year he said that crypto is a ‘hyped-up fraud’, a ‘waste of time’ and 'pet rock'. These statements however are strange considering JPMorgan investment and push into blockchain tech and development of their own coin on top of the seven or so crypto funds JP runs.

Onyx is an team and division under JP who developed the JPM Coin which is a private and centralized blockchain run by JP with a token called JPM Coin used for settling and clearing transactions between JP Morgan customers. JPM Coin even recently went like for euro transactions. Even JP Morgan's CEO acknowledged the vast superiority of a blockchain token over legacy systems in the speed, convenience and 24/7 nature of transactions.

All this is to say that they don't have an issue with crypto really. It's about the ability for them to control the coins and tokens.

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Is it actually bad for Bitcoin that entities like MicroStrategy are accumulating so much Bitcoin? - Microstrategy is just one company and they hold 140 thousand Bitcoins. Considering there is 19.4 million Bitcoins out there and estimations are that more than 4 millions has already been lost forever, that would ... See More mean that we right now have about 15 million Bitcoin that is possible to be owned. That means Microstrategy themselves owns about 0.9% of all Bitcoin available, and Saylor said he plans to accumulate more

What if other entities/corporations started doing similar, and just accumulated for themselves. How can this be good for Bitcoin and its overall decentralization if one day let's say a third of it is owned just by like dozens of entities?

A lot of Bitcoin community actually supports Michael Saylor and seem kind of excited when they hear news that Microstrategy bought another batch because it pumps price short term I guess, but aren't long term effects of this possibly quite bad?

Crypto hacker gets 5 years in prison after stealing $794,000

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Gary Gensler approves a leverage btc futures ETF, but denies spot btc ETFs citing "consumer protection". Where is the logic there? - Spot btc is literally safer than buying leverage btc futures. The SEC says no to spot btc but approves leverage btc, they have truly lost their minds. Do ... See More they not plan to "protect consumers" now? These people need to do their jobs better. Prevent ftx, celcius etc from happening instead of going after Coinbase, binance via lawsuits. Create some regulatory clarity instead of just suing everyone to get their money up.

Imagine letting retail gamble with leverage btc but not letting them buy spot btc ETFs. This is kind of getting crazy now. It literally makes 0 sense. SEC needs to get gutted from the inside and change its regime seriously.