Wall Street firms ‘tell clients to avoid crypto’

JPMorgan Chase and Goldman Sachs are advising their clients against bitcoin (BTC), according to an American wealth manager, Cointelegraph reports.

Adam Pokornicky, chief operating officer at Digital Asset Investment Management (DAIM), a US-registered investment adviser for digital assets, claimed that his firm almost lost a client due to the banks’ intervention.

Pokornicky described his client as a lawyer and a “high net worth individual,” adding that they’ve been acquainted for a long time. “He’s both a friend and someone I’ve worked with over the years,” the wealth manager explained.

According to Pokornicky, his client was ready to buy a minor amount of BTC for his portfolio, but had a sudden change of heart after talking to advisers from JPMorgan and Goldman Sachs. “For him going from wanting to buy 1 Bitcoin to him not being interested means he was talked out of it,” said Pokornicky, whose attempts to get more context have been unsuccessful. “I still don’t know what was said to him”.

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