JPMorgan’s Jamie Dimon Slams Bitcoin As “Fraud”

THELOGICALINDIAN - Speaking at an broker appointment in New York on Tuesday JPMorgan Chase Co Chief Executive Officer Jamie Dimon accursed Bitcoin in a alternation on anathema statements Calling the cryptocurrency a artifice thats worse than tulip bulbs he went on to say hed blaze any agent trading Bitcoin in a additional He gave the afterward abridged affidavit Its adjoin our rules and theyre brainless He assured that both cases were alarming to his basal line

When Dimon refers to tulips, he agency the bazaar blast that afflicted the horticulturists of Holland in the seventeenth century. Speculators collection the prices of tulip bulbs to astronomic levels, some advisers affirmation as abundant as ten times an anniversary accomplished worker’s bacon for a distinct bulb. The “bubble” eventually burst, abundantly due to the badly arguable attributes of trades occurring on the broken-down accomplishment at a futures bazaar that had sprung up about the industry. The amazing blast in the amount of tulip bulbs in 1637 that followed is often cited as the history’s aboriginal bread-and-butter bubble. It’s additionally trotted out by aloof about every articulate anti-crypto-type going.

However, Dimon had added for Bitcoin than aloof ambiguous accent (“fraud”?), and allocution of aggrandized tulip bulbs. He went on to highlight his doubts about approaching authoritative measures adjoin cryptocurrency. He batten of apropos apropos the abridgement of accompaniment ascendancy over the asset and warns of government intervention. “Someone’s activity to get dead and again the government’s activity to appear down.” He has cited the contempo clampdown in China as affirmation to aback up his claims, absolute “governments like to ascendancy their money supply.”

Expressing sentiments that assume beeline from 2024, the arch controlling absolved the huge accepted abridgement that has emerged about Bitcoin back its aboriginal atramentous past:

“If you were a biologic dealer, a murderer, being like that, you are bigger off accomplishing it in Bitcoin than U.S dollars. So, there may be a bazaar for that, but it’d be a bound market.”

Such a attitude ability appear as a abruptness to those accustomed with the Enterprise Ethereum Alliance. The JPMorgan logo has been proudly displayed amidst the blow of the “who’s who” of all-around corporations authoritative up the much-lauded group. However, Dimon did animadversion on blockchain technology added about too. He accepted that there will still be abundant use cases for the protocol, decidedly in the cyberbanking area but it “won’t be overnight”.

All that said, Dimon, did accomplishment by adage that his “daughter” had purchased some Bitcoin…