Jamie Dimon On Bitcoin (BTC), ‘I Just Don’t Give a Sh*t About It’

The CEO of JP Morgan has been one of the biggest critics of BTC since he tagged it a fraud last year. Still, he is not willing to be the face of war against this cryptocurrency.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$5,594.80
-1.14%

Dimon’s comment

When he was asked about his thoughts on bitcoin at the LA Axios Conference, he quashed earlier reports that he had softened his stance on BTC.

He said,

I never changed what I said; I just regret having said that… I didn’t want to be the spokesperson against Bitcoin. I just don’t give a sh*t, that’s the point.

Dimon maintained his earlier stance on Blockchain. He said that Blockchain is real and is a technology while bitcoin is not the same thing as fiat currency.

This statement is shocking considering the fact that it is barely a week since JP Morgan stated that they were tokenizing diamonds and gold bars on a Blockchain platform Quorum.

Quorum is a permissioned network, which is based on the Blockchain of Ethereum. It is used in the same way as Ethereum but is rather focused on offering private and more centralized solutions for businesses that want to explore the Blockchain.

Even though Dimon is speaking for himself alone, it seems hypocritical considering the fact that the company is creating digital assets that are Blockchain based.

A circuitous history

As reported previously, Dimon’s torturous history with BTC dates back to last year in September. His critical rhetoric even caused a severe fleeting dent on the digital asset’s price.

After he pledged to remain silent on the issue, he broke out of silence in January this year and started talking again. He stated that he regrets his choice of words while reaffirming his indifference.

Despite the ambivalence of this CEO, top people in the bank have hinted at a more receptive stance towards cryptocurrencies in general. However, the signals in this regard are still mixed.

Dimon’s latest comment suggests that the company is pro-blockchain. A study into the digital transformation of JP Morgan transformation revealed that Blockchain represents a crucial technology for the roadmap of the bank.

Late September, the bank expanded its payment platform which is Blockchain based to over 75 multinational banks. This is part of a collective effort to cut off competition from outside the banking sector.

 

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