JPMorgan Chase CEO Thinks Bitcoin Is Worthless But His Customers Don’t Appreciate
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Answer JPMorgan Chase CEO Thinks Bitcoin Is Worthless But His Customers Don’t Appreciate
Bitcoin’s impressive performance has shut the mouths of many skeptics who, at least for the past few years, have had to admit that there are some advantages to investing in it.
Jamie Dimon, CEO of JPMorgan Chase, is not in this group, as he has continued to stress his anti-Bitcoin stance and that he views it as worthless.
Famous businessman Jamie Dimon has once again confirmed his view on Bitcoin, asserting that Bitcoin lacks any intrinsic value, and it is not recommended to take it as a serious investment.
JPMorgan CEO hates bitcoin unlike customers:
Damon admitted that his opinion was not the most popular, stating:Read:Learn: How Coinbase Became the World’s Largest Bitcoin Bank
Personally, I think Bitcoin is worthless.
However our clients are adults and do not agree with me.
This is what makes markets.
The CEO of JPMorgan knows how to separate sentiment from business and emphasized that he now has no problem offering investment options to his bitcoin-hungry clients given their strong interest in exposure to cryptocurrency, commenting:
If they want access to buy bitcoin, we can’t keep it, but we can give them access as legitimate and clean as possible.
This little open-ended statement about bitcoin is indeed a big shift in Jimmy Dimon’s attitude.
In 2017, the CEO of JPMorgan Chase claimed that he did not want any of his employees to trade bitcoin, asserting that bitcoin was a scam worse than tulips, and sarcastically stated at the time:
I’ll shoot them in a second.
For two reasons: This is against our rules and they are stupid.
And both are dangerous.
Crypto community interaction:
Of course, the crypto community was quick to respond.Read:What are the reasons for the downturn in the cryptocurrency market in 2018?
In general, as is often the case when some skeptics issue an anti-Bitcoin opinion, Bitcoin hawks point out that the appreciation of Bitcoin over time has exceeded the most pessimistic expectations.
The compilation published by the website indicates “99 bitcoinAt least 431 high-level predictions have been issued, confirming that Bitcoin is doomed to failure, with the first of which was recorded on December 15, 2010, and the last on September 28, 2021.
But Bitcoin is currently only a few thousand away from reaching a new high, proving (at least for now) that the Bitcoin pessimists were wrong.
Michael Saylor, CEO of MicroStrategy, a software company heavily invested in bitcoin, was one of the people who responded loudly on Twitter.
Saylor noted that perhaps the reason Dimon and other bankers have been frustrated with Bitcoin’s historic rise is their lack of understanding of how it works and what it does.
Read:Hedera Hashgraph project receives support from IBM and India’s Tata
– Michael Saylor (@michael_saylor) October 11, 2021
Within these permits, Bitcoin is still stable at around $57,000, meaning it is not ready to die yet.
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