J.P. Morgan may be highly skeptical about the prospects for bitcoin, but at least one financial research firm is behind the virtual currency. Institutional brokerage Wedbush Securities has become the first to accept bitcoin payments in the US.
Los Angeles-based Wedbush has thus far published two reports on bitcoin through its Wedbush Equity Research operation. At the start of December, it released “Bitcoin: Intrinsic Value As Conduit For Disruptive Payment Network Technology”. It followed this up with “Digitizing Trust: Leveraging the Bitcoin Protocol Beyond the Coin” a month later.
“At this point in time, the bigger institutions have a negative knee-jerk reaction.”
February 15, 2014 at 01:18AM
