Animoca Brands is betting on altcoins amid its plans to go public, Bitcoin eyes a return to $100,000, and more: Hodler’s Digest
Members of the Bitcoin community and supporters of Strategy, the largest corporate holder of Bitcoin, are criticizing JPMorgans proposed Bitcoin-backed notes, accusing the bank of spreading fear, uncertainty and doubt about Strategy and other crypto treasury companies.
JPMorgans notes are a leveraged investment product tied to the price of Bitcoin. The product tracks BTC but amplifies the outcome, giving holders 1.5 times the gains or the losses through December 2028. The notes are slated for a December 2025 launch, according to an SEC filing.
The move drew sharp criticism from the Bitcoin community, with many saying that JPMorgan is now a direct competitor to BTC treasury companies and has an incentive to marginalize companies like Strategy to promote its own structured financial product.
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