January 9, 2018 (The Ferowich Report) — JP Morgan chief executive Jamie Dimon expressed “regret” for accusing bitcoin of being a “fraud” last fall.
While Dimon was widely condemned by the crypto community for the initial remark made at a banking conference last September, Dimon’s latest comments show that even former naysayers can be swayed from hardline opposition upon learning more about blockchain technology and digital assets.
Asked about his remarks that bitcoin was a “fraud,” anyone at JP Morgan caught trading bitcoin would be “fired for being stupid,” and that bitcoin would “eventually blow up” because it was “worse than tulip bulbs,” Dimon told Fox Business Tuesday “I regret making them.”
“The blockchain is real. You can have crypto-yen and dollars and stuff like that. ICOs you have to look at individually,” Dimon said.
“The bitcoin to me was always what governments are going to feel about bitcoin as it gets really big, and I just have a different opinion than other people,” the banker said, noting that other than that he wasn’t “interested that much in the subject at all.”
Since making his initial remarks, bitcoin futures launched at the CME, Cboe and TD Ameritrade, Goldman Sachs started setting up a desk dedicated to trading cryptoassets, and the New York Exchange filed a request with the SEC to list leveraged bitcoin ETFs. Two companies have been told the SEC won’t allow the ETFs for now, though, according to reports.
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