JPMorgan reportedly put Bitcoin’s (BTC) fair price in the $38,000 mark – 28% over its existing tier of approximate $29,500, as revealed in a note to customers from the bank on May 25th. 

Specifically, the crypto market correction displayed throughout April reportedly appears to have characteristics of submission relative to last January/February, and in the future, there will be an upside for Bitcoin and crypto markets in a more general manner, the note read. 

A bank investors’ note reportedly put Bitcoin’s fair value in the similar tier with the figure in February, which was available for trading at the approximately $43,000 benchmark at that time.

Crypto has reportedly left real estate behind in the race to be a preferred “alternative asset” for the bank, together with hedge funds, the note continues.

“Thus far, there is little evidence of VC [venture capital] funding drying up post-Terra’s collapse. Of the $25 billion VC funding year-to-date, almost $4 billion came after Terra. Our best guess is the VC funding will continue and a long winter similar to 2018/2019 would be averted.”

VC funding would play a critical role to steering clear from the prospect of a crypto winter, it further revealed.

On the same day, high-profile venture capitalist Andreessen Horowitz reportedly discloed details regarding the closing of its fourth cryptocurrency fund at $4.5 billion. 

Also on may 25th, , crypto-focused venture firm NGC Ventures launched its third blockchain fund with $100 million raised from investors that included Babel Finance, Huobi Ventures and Nexo Ventures.

head of JPMorgan Jamie Dimon has shared in a repeated manner his personal antipathy for cryptocurrency, to a degree as deeming it a fraud, but the bank, itself, has adopted an attitude with more practicality. 

It became the pioneering major bank in the Metaverse in early 2022. Dimon has spoken high of crypto for its feature supporting cross-border payment.