J.P. Morgan’s head of wealth management, Mary Callahan Erdoes, has said clients are increasingly viewing Bitcoin as an asset class to invest in.
Speaking to Bloomberg, Erdoes noted that the banking giant’s goal is to guide clients to put their money where they need it while maintaining that venturing into cryptocurrency is a personal choice.
“A lot of our clients say that’s an asset class, and I want to invest, and our job is to help them put their money where they want to invest,” Erdoes said.
She added that the bank does not have Bitcoin as an asset class, but the store of value status will be tested over time. Erdoes implied that the current Bitcoin volatility is among JP Morgan’s reservations.
