image source : own created
Don't get me wrong guys !, it's not my statement, it was Jamie Demon, The CEO of JPMorgan, one of the biggest and famous investment company in the world. yeah.., in 2017 he said that bitcoin was fraud and he would fire employees trading bitcoin because it was STUPID. he believed in blockchain would become an important technology which is a good technology. it Would be useful in a lot of different things. but when it comes to Bitcoin he said a big NO !!, and had no attention about it.
Quote“I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If you’re stupid enough to buy it, you’ll pay the price for it one day. I’ve also told people that it can trade at $100,000 before it trades to zero. Tulip bulbs traded for $75,000 or something like that.
Quote“I quite mean that by the way. People are very good at manipulating the press these days and getting news out. Every day, you have CNBC, nonstop bitcoin — Who cares about bitcoin? The world economy’s so big, JPMorgan alone, $6 trillion, we move all this money, and bitcoin in total, all these currencies, $50 billion dollars, maybe a billion dollars trades a day.
Quote“The other thing I’ve always [said] about bitcoin, governments — and this is not a technological statement — governments are going to crush it one day. Governments like to know where the money is, who has it and what you’re doing with it, in case you haven’t noticed. Right?
Quote“People have said legitimately ok, it’s close to gold. Not really. Gold is limited, it’s been around for along time. [People also say bitcoin is] close to a fiat currency. Not really. A fiat currency is when a government says this is your legal tender, you have to give it and accept it.
However, despite these controversial statements, JPMorgan finally turned its full support for bitcoin, and Jamie Dimon admitted his misunderstanding about bitcoin and apologized. even Less than two years later, Dimon is pushing his company headfirst into the crypto space.
image source : own created
JPMorgan has great attention to cryptocurrency nowdays, especially over bitcoin, even a few days ago they released their research results that the demand for bitcoin will increase to $ 600 Billion in the future.