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JPMorgan Says Bitcoin Outlook Hinges on Strategy Funding and CLARITY Act Progress
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
JPMorgan has turned more cautious on digital assets, citing concerns over how Strategy plans to fund roughly $1.7 billion in annual preferred stock dividend obligations. The bank noted that Strategy’s recent sale of 32 BTC was relatively small, but said investors may question whether additional Bitcoin sales could be used to support future dividend payments. According to JPMorgan, the company’s current cash reserves cover only about 6.3 months of dividend obligations. Looking ahead, the bank said second-half market sentiment could be influenced by Strategy’s funding strategy and the fate of the CLARITY Act, with JPMorgan estimating the legislation now has less than a 50% chance of passing this year.
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