Did you hear about the bankster who said cryptocurrency was a waste of time? His “Bitcoin alternative” patent was rejected 175 times! Jamie Dimon is out of his league. The financial fraudster who’s been predicting the death of Bitcoin for years has finally thrown in the towel to admit that cryptocurrencies at large are here to stay.
Partially responsible for the so-called “Dimon dip” in September 2017, in which Bitcoin lost a significant chunk of its value following his comments calling the digital currency a “fraud,” Dimon is now backtracking on his words.
The JP Morgan Chase CEO told FOX Business Network that he’s taking back his previous comments.
“I regret making them,” says Dimon.
He sure does, as being proven wrong time and time again must’ve been a colossal blow to his ego. Rather than learn about cryptocurrency and what the technology has to offer, Dimon is perhaps taking the only other alternative to shooting his mouth off about a subject he knows nothing about: by claiming he isn’t interested in it.
Speaking to the network, he says he is “not interested in the subject at all,” but added that blockchain—the system that powers Bitcoin, which is being used by many companies for its record-keeping utility—”is real.”
No kidding, Dimon. That’s what everyone who’s supported the technology has been saying all along. And yet here he is, pretending to be an expert.
Not to be completely discounted, Dimon says that initial coin offerings must be reviewed “individually,” referring to ICOs in which investors use cryptocurrency to pay for a company’s “tokens.” As Financial Times notes, several of these have been the subject of fraud alerts from the SEC and other United States regulators as they provide few traditional protections to investors compared to stocks.
Dimon isn’t the only Wall Street executive to weigh in on cryptocurrency. His negative remarks about Bitcoin were shared by Larry Fink, who leads BlackRock. It’s only a matter of time, though, before these dinosaurs all fall in line and recognize the value of crypto, or they’ll be left in the dust.
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