Jamie Dimon says he regrets calling bitcoin a fraud BUT remains concerned about how
- J.P. Morgan Chase CEO said he regrets calling bitcoin a fraud.
- “The blockchain is real,” Dimon tells Fox Business.
- Dimon remains concerned about how “governments are going to feel about bitcoin when it gets really big.”
J.P. Morgan Chase Chairman and CEO Jamie Dimon is backpedaling a bit on his earlier criticisms on cryptocurrencies.
In September, Dimon called bitcoin a fraud. On Tuesday, he regretted making that comment.
“The blockchain is real,” Dimon told Fox Business. “You can have cryptodollars in yen and stuff like that. ICOs … you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”
ICOs stands for initial coin offerings, a controversial way some cyrptocurrency companies are raising funds.
“I’m not interested that much in the subject at all,” Dimon added in the interview.
Along with his earlier bitcoin is a “fraud” statement the executive also blasted digital currency investors last year.
“If you’re stupid enough to buy it, you’ll pay the price for it one day,” he said in response to a moderator question at an Institute of International Finance conference in October.
The price of bitcoin declined 1.4 percent to $14,760 Tuesday, according to data from industry website CoinDesk. The digital currency is up more than 1,500 percent in the past 12 months.