TLDR Tech / Crypto
JPMorgan: Bitcoin's Real Risk Is Permissioned Blockchain Adoption
JPMorgan analysts argue that Strategy's bitcoin sales are not the main structural threat to bitcoin and that the bigger risk is tokenization, payments, and settlement increasingly migrating to permissioned blockchains that bypass public chains and their tokens entirely. Institutional adoption has largely favored permissioned infrastructure because it offers better privacy, KYC/AML controls, governance, and regulatory certainty, and the BIS has actively promoted permissioned unified ledgers over public blockchains for systemically important financial infrastructure.
Read the full story