Jamie Dimon: I Don’t Give A Shit About Bitcoin
November 2, 2018 11:47 am
Jamie Dimon, CEO of JPMorgan Chase has once again spoke against the world’s most popular cryptocurrency Bitcoin. Jamie had previously said that he would not be speaking about Bitcoin after receiving reactions for earlier comments on the subject.
While speaking at Axios conference held in LA, Jamie said in response to a question about his previous remarks on Bitcoin. He said that he never changed what he said rather than regretting his words. The CEO added that he doesn’t want to be the spokesperson against the Bitcoin. He simply does not give a shit about Bitcoin.
According to him, blockchain is a real technology, and Bitcoin is not the same as fiat currency. In September 2017, the CEO called Bitcoin a fraud at an investor conference held in New York City. He also added that it was “worse than tulip bulbs” and he’d fire anyone from his company that was found to be trading in cryptocurrencies.
Jamie Dimon was accused of market manipulation following his comments. A blockchain startup called Blockswater claimed that Dimon had violated Article 12 of the EU Market Abuse Regulation by publicly insulting cryptocurrency.
In January 2018, the CEO said that he regretted his comments and his choice of words. Dimon also admitted that he was not interested in the topic. He is connected to the world of finance and continued saying that blockchain was an exciting idea. Jamie Dimon added that the blockchain means private, distributed databases and decentralized systems.
JPMorgan Chase published a report in February saying that cryptocurrencies could pose a risk to its services in the future. The report specified ways the bank could change its operating procedures to compete with the sector.