And yet delusional ideas propagated by some of the biggest in the industry.. Looks like someone at the top hastily jumped on the bandwagon at the peak of crypto-mania and went ahead with investment, now no way to look back so try the idea and let it die after couple of years.. JPM coin, Neither blockchain nor crypto, completely senseless idea..
The more I read about cryptocurrencies and crypto exchanges failing, the more I am reminded of the US banking industry in the days when each bank could issue its own currency. Needless to say, it didn't end well.
There's an excellent read on the subject: https://www.amazon.com/Exchange-Arti.../dp/B001C2M1KW
As for the wisdom of speculating on high risk assets, all I'll say is that even though I allocate the large majority of my regular investments to traditional asset classes, crypto currency has been far and away my most profitable venture over the last few years (despite surging stock markets).
High risk, high reward makes sense when the upside is demonstrably so significant.