JPMorgan Rains on the Bitcoin Parade as McDonald’s and the NFL Bet on Metaverse

 

JPMorgan Rains on the Bitcoin Parade as McDonald’s and the NFL Bet on Metaverse

JPMorgan rained on the Bitcoin parade flagging more challenges ahead for the cryptocurrency, McDonald’s  (MCD) - Get McDonald's Corporation Report filed trademarks for the metaverse and the NFL teamed up with Roblox  (RBLX) - Get Roblox Corp. Class A Report to create NFL Tycoon.

Transcript:

We got JPMorgan trying to rain on the Bitcoin parade, while the NFL is scoring in the metaverse.

It’s your boy Ross Mac and these are the biggest stories in cryptocurrency on Thursday, February 10.

I guess they didn't get the Cathie Wood memo, but JPMorgan is saying that bitcoin is going to face more challenges this year, and as a result, pegs Bitcoin's fair value at $38,000. Guess they missed the commentary where FSInsight predicted that Bitcoin could hit $200,000 by the end of this year, or the bullish sentiment Wells Fargo expressed in their report. JPMorgan did, however, say that NFTs are set to dominate digital assets...It's important to note though, their fair value price is actually below where bitcoin trades today. Who do you think is right?

Looks like Mikkie Ds is going into the metaverse. McDonald's just filed 10 trademark applications that would include plans for a virtual restaurant and operating a restaurant which--surprise!--actually features home delivery. Who needs GrubHub when you order a Big Mac virtually?. While some might laugh this one off, it may just be a sign that McDonald's is getting ahead of the competition and trying to dominate fast food in the metaverse.

Now after you grab a McChicken, guess what? You can now head on over to the NFL Tycoon thanks to the new Roblox and NFL partnership to expand the NFL's footprint in the metaverse. NFL's Roblox experience will engage fans year-round in interactive NFL-themed gameplay while also providing a new virtual hangout destination. Fans will now be able to engage and play in the Tycoon alongside other players and attend live events.

I’m Ross Mac and that was the Crypto Minute on TheStreet. 

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