Posts Tagged ‘aaron lasher’
Share the Aaron Lasher Money quote image above on your site:
Short Link to this Quote:
In this quote, Aaron Lasher is referring to how the rise of cryptocurrency reduces the ability of large banks like JPMorgan to generate profits and “monetize” value. Cryptocurrencies operate outside of the traditional banking system, so every dollar that individuals invest in crypto assets is a dollar that is not deposited in a bank where it could be used to issue loans, earn interest, or be invested to generate returns for the bank.
By choosing cryptocurrencies over cash or bank deposits, consumers are effectively taking value away from the banking sector that normally benefits from holding people’s money. So Lasher is arguing that the growth of cryptocurrency as an alternative store of wealth represents lost opportunities for big banks like JPMorgan to turn those dollars into earnings and grow their businesses further.