Strategists at JPMorgan Chase (NYSE:JPM), one of the largest investment banks in the United States, believe that Tesla’s $1.5 billion Bitcoin (BTC) purchase will not necessarily trigger a ton of similar investments.
A group of JPMorgan strategists led by Nikolaos Panigirtzoglou reportedly argued that Bitcoin’s highly volatile nature could keep mainstream corporate treasurers away from Bitcoin. “The main issue with the idea that mainstream corporate treasurers will follow the example of Tesla (NASDAQ:TSLA) is the volatility of Bitcoin,” the strategists wrote in a note to investors, Bloomberg reported Tuesday.