Michael Saylor Selling Isn't Bitcoin's Biggest Problem—Here's What JPMorgan Says the Real Threat Is - Str

The Real Threat Is Banks Building Their Own Blockchains

Analysts led by managing director Nikolaos Panigirtzoglou argued the bigger danger comes from financial institutions adopting blockchain technology in ways that bypass public networks entirely.

If tokenization, payments, and settlement move to permissioned infrastructure controlled by banks rather than public chains, the broader crypto ecosystem faces slower activity, lower liquidity, and weaker capital flows over time.

“The more important risk stems from blockchain adoption within traditional finance continuing to develop in ways that bypass public permissionless networks,” the analysts wrote.

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