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We Were Wrong About Bitcoin

In September 2017, Jamie Dimon, the CEO of JPMorgan Chase said in a press conference organized in New York that “If we had a trader who traded Bitcoin I would fire him in a second for two reasons. One, it’s against our rules. Two, it’s stupid!

He created a wave of negative thoughts in the world of cryptocurrencies that day. As an addition Jamie Dimon, claimed that Bitcoin is “worse than tulip bulbs”. Numerous cryptocurrency users got furious about its remarks. You can read more about this from JPMorgan Filed Market Abuse.

Why did he change his opinion?

On 9 January, 2018, Mr. Jamie Dimon took part at an interview for the US television station, named FOX Business Network. He changed his opinion about Bitcoin. But, why?

Now, he regrets saying negative words about it. Whether his opinion about digital systems got improved, he is not being interested in trading cryptocurrencies. It’s real: an important wolf of Wall Street begun to promote the idea of blockchain, arguing the importance of such platform in big companies.

What’s next?

Numerous companies have proposed to build a blockchain base. This is being seen as a solution for a higher security than traditional systems. Jamie Dimon also made a remark about ICOs, in terms of improving them to an “individual” level.

All we can do is to wait for the results. We think the Wall Street will get involved more and more in cryptocurrency system. What is your opinion about Jamie Dimon’s changing view?

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