Jamie Dimon: "I Regret Calling Bitcoin A Fraud"

Less than four months after Jamie Dimon lashed out at bitcoin, warning that it was would "eventually blow up" because it was "worse than tulip bulbs" and that "any trader trading bitcoin" will be "fired for being stupid", the JPMorgan CEO said he "regrets" his infamous criticism of bitcoin, in which he called the cryptocurrency a "fraud."

In an interview with FOX Business' Maria Bartiromo, Dimon repented, softening the comments he made in a September banking conference, saying "I regret making them."

While Dimon said that he personally is still "not interested in the subject at all" he conceded that blockchain "is real." Dimon also softened his tone on initial coin offerings, saying that ICOs need to be reviewed “individually”.

"The blockchain is real. You can have crypto yen and dollars and stuff like that. ICO's you have to look at individually", Dimon told Bartiromo.

"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 today's recantation, Dimon was one of the highest-profile bitcoin skeptics on Wall Street. His remarks in September were met with anger from many in the cryptocurrencies community, but also echoed by other top executives, including Larry Fink, chairman and chief executive of BlackRock.

Since then, the acceptance of bitcoin has moved to the institutional arena with both the cboe and CME launching bitcoin futures, while Goldman is preparing a cryptocurrency trading desk. It was only a matter of time before Dimon realized all the potential lost revenue, and rushed back in to avoid losing even more market share.

Comments

CPL buzzsaw99 Tue, 01/09/2018 - 10:49 Permalink

Zombie banks run by zombies aren't known for fast decision making or long range planning.  Jamie Diamond will put BTC in now from his own pocket.  He can consider it a swear jar and put 50 coins in the trade platform.  Or the rug gets pulled on him in August with the other shit wits that think they can jump a gate without a proxy or payment or a proposal worth a damn.

Quadriga CX. 

 

In reply to by buzzsaw99

Dubaibanker GatorMcClusky Tue, 01/09/2018 - 08:18 Permalink

China is about to burst his dreams!

China on the verge of bursting bitcoin bubble

Indonesia has banned it.

India called it a ponzi.

HK has shut all accounts related to bitcoin.

Australia has blocked all bitcoin accounts.

CEO of a bitcoin company was kidnapped in Ukraine.

But this crooked Jamie thinks he knows better based on his acumen to defraud the gullible public.

When will Jamie Dimon go to jail?

 

In reply to by GatorMcClusky

Endgame Napoleon GatorMcClusky Tue, 01/09/2018 - 08:38 Permalink

Maybe, Jamie read this article. This is a brilliant article—so easy to read and entertaining. It tells you exactly why Bitcoin and other cryptos solve critical problems, linking them to other historical currencies. After reading this, I can see the inevitability of cryptocurrency. 

https://jamesaltucher.com/2018/01/everything-you-need-know-bitcoin/?r=ATC

In reply to by GatorMcClusky

CPL MarshalJimDuncan Tue, 01/09/2018 - 10:56 Permalink

Not really, but the goal is to see if these idiots can pay their tribute properly in what is required versus their cockeyed nonsense.  Plan is everyone take it easy, sit on our hands and let them brain themselves.  By july they'll be in full blown panic mode and will pay anything to be throw a rope.  Enjoy the break in the mean while and offer no advice but for these potential clients to put BTC in the wallet.

Not like they'll have much of a choice soon enough.

In reply to by MarshalJimDuncan

wmbz Tue, 01/09/2018 - 07:40 Permalink

Isn't this the guy that has the stupid (according to him) daughter?

I'm leaning toward Jamie being the fraud, and an asshole.