The fall of bitcoin was short-lived, the price increased by 11% per day

Bitcoin jumped above $ 54,000 on Monday amid positive news. At the beginning of the day, the first cryptocurrency tested the lows of the beginning of March around $ 47,000.

The largest US bank JPMorgan intends to open a fund for investment in cryptocurrencies for wealthy clients, while they do not need to buy in their own name and store crypto assets. The fund may be launched in the summer, and NYDIG will be responsible for the safekeeping of its assets.

The bank will actively manage the fund, which will differentiate it from other existing Bitcoin offerings, including Pantera Capital and Galaxy Digital. These firms buy and store bitcoins for the benefit of clients, but do not perform any other investment management actions.

In the past, JPMorgan CEO James Dimon called bitcoin a “hoax” and promised to fire any trader caught trading cryptocurrency. Subsequently, he softened his attitude, but noted that for himself he does not consider BTC as an investment asset.

JPMorgan analysts regularly release notes on bitcoin, which have repeatedly expressed doubts about the ability of the cryptocurrency to continue its rise during the current rally.

From other news. PayPal CEO Dan Shulman told TIME that demand for digital assets has exceeded the company’s expectations. According to him, in the next 5-10 years the world expects more changes in the financial system than in the last 10-20 years.

Recall that on March 30, PayPal added the ability to pay for purchases with Bitcoin, Ethereum, Litecoin and Bitcoin Cash in 29 million partner stores.

Meanwhile, Tesla in its quarterly report announced the sale of part of the bitcoins and profit taking of $ 101 million. The sale amounted to 10% of the company’s total position in bitcoin.

In March, Tesla began accepting cryptocurrency as payment for orders on its website and promised not to liquidate the assets it received from customers.

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