Jamie Dimon: J.P. Morgan Chase Bank CEO says he regrets calling bitcoin a fraud – Why?

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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.”
Jamie Dimon, CEO of JP Morgan Chase says he regrets calling bitcoin a fraud
Jamie Dimon says he regrets calling bitcoin a fraud

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.

CNBC https://www.cnbc.com/2018/01/09/jamie-dimon-says-he-regrets-calling-bitcoin-a-fraud.html