JP Morgan and Bitcoin – JP Morgan CEO Jamie Dimon made several contentious remarks that might support the long-term bullish thesis for Bitcoin. Dimon says that the government “should seize private” assets to develop renewable energy projects, according to a Telegraph.
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Green Energy vs. Property Rights
This, according to the banking executive, maybe the only option for governments to achieve their targets for net-zero carbon emissions. Dimon said there is “closing” time left to combat climate change. Thus, the government should take imidate action.
Dimon wrote to investors and said the following:
“Permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
Dimon used the war between Russia and Ukraine to justify the government’s employing “eminent domain,” a policy that nationalizes large amounts of property. The battle alters how the globe “plans for energy security,” the executive claimed.
Energy prices in European nations increased as the crisis broke out between these two nations. The old continent’s energy crisis prompted several adjustments and reduced reliance on Russian energy sources.
Dimon asserts that nations should “do more” to safeguard their energy security from all dangers, including climate change. He said:
Further action is required, and it must be taken right away.
“To expedite progress, governments, businesses and non-governmental organisations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.”
JP Morgan Stock Price Forecast
JP Morgan is expected to earn $3.43 in the upcoming quarter, with a range of $2.79 to $3.78. EPS for the previous quarter was $3.57. In the previous 12 months, JP Morgan exceeded its EPS estimate 50.00% of the time, while its industry exceeded its EPS estimate 60.95% of the time.
JP Morgan underperformed its industry as a whole over the past year. and in sales, JP Morgan anticipates sales of $35.98 billion, with a range of $33.95 billion to $37.65 billion. Sales figures for the preceding quarter were $47.21B.
In the previous 12 months, JP Morgan exceeded sales projections 100.00% of the time, while the industry did so 77.89% of the time. JP Morgan outperformed its sector as a whole in the past year.
JPM has had 0 Buy, 0 Hold, and 0 Sell ratings in the most recent month. In the previous three months, the average analyst price target for JPM was $153.73.