Jamie Dimon, CEO of JP Morgan Chase has been quite harsh with his words on cryptocurrencies, more specifically the bitcoin. Going as far as calling bitcoin a scam and comparing it to the insane Dutch tulip mania of the 17th century.
It’s creating something out of nothing that to me is worth nothing, it will end badly.
While I have to admit that he is undoubtedly a veteran of the financial industry, and has garnered an insane amount of experience in all walks of life. I’m quite stunned that he voiced his opinion using such harsh words, especially to the media!
Additionally, Jamie is the type of guy that has a lot of pull, and his words can really make the market move. So, it’s no coincidence that the bitcoin price went on a relatively light bullish run for a few weeks.
But guys, it should be noted that Jamie merely thinks that cryptocurrencies and the bitcoin are hot air. He doesn’t have anything against Blockchain technology. Well, despite what Mr.Dimon said, the price of the coin has recovered astoundingly. It nests quite comfortably just a quarter of a way over $8,000. This growth should act as a testament to the bitcoins resilience to opinion leader stances.
JPMorgan might offer BTC futures to clients.
Despite Jamie Dimon having such a stance, some news came up recently, and guess what? JPMorgan may follow after the CME and start offering its clients bitcoin futures options.
This is obviously quite a surprising announcement. I expect it to rattle the cryptocurrency and finance industry. We may see another massive price increase for our favorite crypto, the bitcoin.
I have to say thank you to the user who pounded JP with requests to add the bitcoin to their platform. I definitely think that bitcoins should be traded on some regulated platforms. But not all bitcoin and cryptocurrency platforms should be fully regulated.
Interesting, I would like to bring two more things to your attention. Do you remember how Dimon said, “If you’re stupid enough to buy it, you’ll pay the price for it one day”. Oh, yeah, he also let the world know that he’d fire anyone if he found out that they were playing around with bitcoins.
I would like to remind all of you that this might have a similar effect on the BTC price as did the CME announcement. Stock up!
What do you think about Jamie Dimon’s stance on the bitcoin? Do you think he’s getting pressured by big wallets to change it? Where do you see the bitcoin price going once this news spreads?