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The guy changed his tune when prices were rising, and JP Morgan started doing a bunch of crypto experiments. Now prices are low, and he's back to calling them s

The guy changed his tune when prices were rising, and JP Morgan started doing a bunch of crypto experiments. Now prices are low, and he's back to calling them scams. All I'm saying is, his opinion clearly just follows the market, which is fine (most people's do), but take it with a grain of salt is all.

credit_guy 4y ago
> his opinion clearly just follows the market Yes, but not slavishly. He was initially vocally opposed to Bitcoin and famously said he'd fire any JP Morgan trader who'd trade it [1]. That was in 2017, Bitcoin's best year (it went from a tad under $1000 to almost $15000). At that time he was clearly standing up against the Bitcoin tsunami. Later on, he just stopped being so vocal. In the end JP Morgan (like all the major banks) say that they put their clients first. If their clients want to trade Bitcoin, then JP Morgan needs to build a platform to let them trade it. Did JP Morgan experiment with blockchain. For sure. It also experimented (and continues to do so) with AI, robotics, quantum computation and, well, the cloud. Does Jamie Dimon even know what "the cloud" is? I don't know, but he feels that his company has a duty to experiment with various new technology, so as not to miss some technological train. Now that Bitcoin is going down, he's speaking his mind again. He hates Bitcoin with a passion. But in the end, if his clients want to lose their shirt trading Bitcoin, and in the process pay JP Morgan some commission, he will gladly let them do just that. [1] https://money.com/jp-morgan-ceo-jamie-dimon-id-fire-trader-in-a-second-for-trading-bitcoin/ https://money.com/jp-morgan-ceo-jamie-dimon-id-fire-trader-i...