JPMorgan CEO says he refuses to buy Bitcoin despite the price potentially reaching 10x its value. Jamie Dimon, a known banking module, has been a very notorious detractor of Bitcoin ever since 2017. This was in contrast to his firm's very own overt desire to capitalize from the ecosystem's whole growth.
JPMorgan CEO Jamie Dimon
According to the story by CoinTelegraph, Jamie Dimon said in an online interview the Times of India slandered Bitcoin's popular appeal. This was reported despite stating that the leading digital asset could actually increase 10x in a matter of just five years.
Dimon, the CEO of JPMorgan, was historically a staunch critic of Bitcoin and even called it a fraud all the way back in 2017. He even cited the reported capability for criminals to be able to evade capture from authorities by actually operating their financial transactions in BTC instead of US dollars.
Dimon on Bitcoin Crypto Asset
When Times of India reportedly asked the CEO whether Bitcoin or even other crypto-assets should be banned or regulated, Dimon then responded that he doesn't care about Bitcoin and noted that he thinks some people waste way too much time and even breath on it. Dimon noted that it is going to be regulated, and that will then constraint it to a certain extent.
Dimon noted that whether it is eliminated, he has no idea, and he also personally does not care. He noted that he is not a buyer of Bitcoin, but this does not really mean that it can't reach 10x its price in the course of the next five years. JPMorgan, however, has opened up a cryptocurrency fund despite its CEO's views on Bitcoin and potentially other cryptocurrency assets.
JPMorgan Implementation of Cryptocurrency and Blockchain Initiatives
Despite this, JPMorgan has expressed growing development in the development as well as the implementation of crypto as well as other blockchain initiatives over the past year. In January 2021, the firm actually bought a 10% stake in the ultra-bullish business intelligence firm known as MicroStrategy.
MicroStrategy CEO Michael Saylor is reportedly one of Bitcoin's most renowned holders and investors. In July, the firm even created a number of worldwide job postings for blockchain engineers, developers, and marketers to be able to work for its own crypto-centric Onyx division.
JPM Coin
This was reportedly responsible for launching the bank's own stablecoin asset, JPM Coin, back in October 2020. A recent report states that JPMorgan subsidiary Counterpoint Global is even considering offering cryptocurrency investments to its wealthy clientele. Robert Kiyosaki, author of Rich Dad Poor Dad, is also predicting an upcoming market crash for stocks, gold, cryptocurrency, and other potential assets.
With certain assets under management topping $150 billion, this would then represent quite a sizable stamp of approval for the other parts of the banking industry. Dimon had actually received some notable criticism for his dismissive views when it came to digital assets.
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This article is owned by Tech Times
Written by Urian B.
