Just 5% Of All Bitcoins In Circulation Have Traded In The Past Year

In JPMorgan’s latest weekly bitcoin hit piece (because for some “inexplicable” reason, JPMorgan executive have instructed most of the bank’s strategists, including those covering equity and rates, to slam the cryptocurrency on a weekly if not daily basis while the bank quietly builds out its own proprietary crypto fund, almost as if it is desperate to scare its clients into selling), the bank makes an interesting argument: bitcoin is not liquid enough to be successfully implemented as a legal tender in El Salvador.

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