Jp Morgan CEO Jamie Dimon Regrets Calling Bitcoin A Fraud

by | Jan 10, 2018 | Bitcoin, Cryptocurrency News | 0 comments

Infamous Bitcoin Critic Jamie Dimon Hopes High On Blockchain & Regrets Calling Bitcoin A Fraud

At a time when Bitcoin was showing its first signs of potential with a constant rise in its price, came a stark comment from the CEO of JPMorgan who warned investors stating that bitcoin would “eventually blow up.” Jamie Dimon made it to the headlines of crypto columns across the globe when he compared the bitcoin phenomenon to being “worse than tulip bulbs.” He had also lashed out at the cryptocurrency threatening that “any trader trading bitcoin” will be “fired for being stupid.” Several months since his last comment he has again resurfaced to public radar but with a softened approach this time. The CEO now regrets the fact that he had criticised bitcoin so badly by calling it a “fraud.” while giving an interview to FOX Business News.

His repentance became vocal during an interview conducted by Maria Bartiromo for FOX Business’ wherein Dimon was asked to comment on his September stand of being an anti-bitcoin monarch. “I regret making them,” was what he had to offer in answer.

However, he stuck to his core point of not being “interested in the subject at all.” But he holds high hopes of the blockchain technology which he considers to be “real.” His tone regarding initial coin offerings had also softened from his previous attacking mode. But he added that every ICO taken up needs to be scrutinised “individually” before investors start pooling in their corpus therein.

Dimon stated out to Bartiromo that:

“The blockchain is real. You can have crypto yen and dollars and stuff like that. ICO’s you have to look at individually. The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people. I’m not interested that much in the subject at all.”

Until the present renege, Dimon was considered to be one of the biggest Wall Street Bitcoin skeptics. The remarks made by him in September infuriated the crypto community but was also adhered to by a range of other top bosses such as BlackRock chairman and chief executive Larry Fink.

The market seemed to slowly divide into two camps – one in favour of Bitcoin and the other one against it. But 2017 had been fairly well for Bitcoin with its futures being launches by CBOE and CME exchanges in December whereas Goldman Sachs is planning to come up with a crypto trading desk very soon.

Also Read: JPMorgan CEO, Jamie Dimon Now Shows Open-Mindedness Towards Crypto Wave

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