Bitcoin’s true believers are taking a victory lap after the cryptocurrency’s fresh all-time high of almost $20,000. "Onward and upward we go to the moon!” tweeted Tyler Winklevoss. "All governments, [financial services] and corporations will soon be mining Bitcoin to guarantee their own supply,” echoed Bitcoin advocate Charlie Shrem. That appears to be true of the Venezuelan Army, at least.
But is this new record going to convert an often-skeptical financial sector, at least beyond hedge funds and strategists who see Bitcoin as a COVID-19 safe haven? Not everyone is convinced.
Last month, as the cryptocurrency hit $18,000 for the first time since 2018, Jamie Dimon at JPMorgan Chase & Co. said he hadn’t changed his mind since he called Bitcoin a fraud during its 2017 bubble. "We’re a believer in cryptocurrency, properly regulated and properly backed,” he said, adding, "Bitcoin’s kind of different, and that’s not my cup of tea.”