JP Morgan Chase: El Salvador is not profitable to use Bitcoin

JPorgan Chase & Co has poured cold water on El Salvador's major decision to use Bitcoin to its advantage, according to a report by U.Today. In a recent statement, JPMorgan Chase noted that using Bitcoin is "difficult" to see "real benefits in the market". JPMorgan Chase added that El Salvador's decision to adopt bitcoin as a second fiat could disrupt negotiations with the International Monetary Fund (IMF). To make matters worse, JPMorgan Chase argued that this could affect the chances of acquiring Bitcoin in major markets.