Cronologia CEO-ului JPMorgan Hating on Bitcoin

Octombrie 12, 2021by Mark Murdock

12 octombrie 2021 / Unchained Daily / Laura Shin

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The CEO of JPMorgan Chase is not a fan of Bitcoin and hasn’t been a fan since 2015. Here’s a quick timeline:

• ~ $ 400 | Noiembrie 2015 → During the Fortune Global Forum, Dimon called for a US crackdown on Bitcoin. “Virtual currency, where it’s called a bitcoin vs. a U.S. dollar, that’s going to be stopped,” said Dimon. “No government will ever support a virtual currency that goes around borders and doesn’t have the same controls. It’s not going to happen.”

• ~ $ 3,900 | Septembrie 2017 → While speaking at a banking conference, Dimon called Bitcoin “a fraud.” He went on to add, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.” Dimon went on to say he regretat declaratia.

• ~ $ 5,600 | octombrie 2017 → Dimon informed the audience at an Institute of International Finance event: “If you’re stupid enough to buy it, you’ll pay the price for it one day.”

• ~ $ 53,300 | 2021 mai → At the Wall Street Journal CEO Council summit, Dimon expressed disdain for Bitcoin once again. “I’m not a bitcoin supporter… I don’t care about bitcoin. I have no interest in it.”

• ~ $ 54,800 | octombrie 2021 → In an appearance on HBO’s Axios, Dimon said Bitcoin has “no intrinsic value.” He also added, “and regulators are going to regulate the hell out of it.” Dimon used China as an example for his viewpoint. “I’ve always believed it’ll be made illegal someplace, like China made it illegal, so I think it’s a little bit of fool’s gold.”

• ~ $ 57,500 | Ieri → Dimon said that he thinks Bitcoin is “worthless.” The comment came during testimony to the US House Financial Services Committee.

Dimon went on to clarify that his atitudine on crypto will not affect that of JPMorgan’s. “My own personal advice to people is: stay away from it. That does not mean the clients don’t want it,” Dimon said. “This goes back to how you have to run a business. I don’t smoke marijuana, but if you make it nationally legal, I’m not going to stop our people from banking it.”

The CEO has seemingly held to his word, as JPMorgan has been active in the crypto/blockchain industry for years. In 2017, JPMorgan created JPM Coin, a digital currency to be used commercially. The news coincided with the launch of Onyx, a business unit specifically focused on crypto and blockchain. In March of 2021, JPMorgan dezvaluit a cryptocurrency exposure basket, giving investors indirect access to crypto through companies like Tesla and MicroStrategy. In August, the bank parteneriat with NYDIG to give private bank clients access to Bitcoin.

Additionally, in an October note to clients, JPM’s cross-asset strategist Nikolaos Panigirtzoglou expressed a urcarea opinion on Bitcoin as a store of value. “The reemergence of inflation concerns among investors has renewed interest in the usage of bitcoin as an inflation hedge,” he wrote. Adding, “Bitcoin’s allure as an inflation hedge has perhaps been strengthened by the failure of gold to respond in recent weeks to heightened concerns over inflation, behaving more as a real rate proxy rather than inflation hedge.”

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