Bitcoin Forum

JPMorgan has changed its position on Bitcoin

It might become a new type of gold. Less than a month ago Jamie Dimon, the CEO of JPMorgan, called Bitcoin a "fraud", and now the company has a different position on the cryptocurrency.

Read more: https://tokenzone.io/all-posts/jpmorgan-please-make-you-final-decision-on-bitcoin (https://tokenzone.io/all-posts/jpmorgan-please-make-you-final-decision-on-bitcoin)

Well, these people can smell the scent of money from afar and they know how to exploit any opportunity when they see one. Jamie Dimon was just playing words with Bitcoin and maybe doing some marketing stunts for the company he is representing as he is now part of the Bitcoin history. I am all willing to welcome Jamie into the Bitcoin family anytime that he will decide to finally enter the Bitcoin party!

There are 2 different things - JP Morgan's position and Jamie Dimon's views. They may not believe in Bitcoin, but they will still buy it for you for a small fee. You cannot expect JP Morgan to ignore an opportunity to make money, just because it's boss believes that it is a bubble. Even if it is a bubble, only the investors get hurt.

You are a little bit mistaken Jamie Diamon (JP Morgan's head) called bitcoin as fraud and he recently said that he stays at his opinion. Meanwhile JP Morgan as a company stays as one of the biggest investors in the crypto currency. Such situation can be seen unique for all crypto world, but only that keeps this man and the company in the top of all discussions  :D

Bitcoin value is skyrocketing, do you think it really matters what JP Morgan's CEO Jamie Dimon says about Bitcoin ?

No, it was a phase when people were curious to know about his views and reacted to that but not things are changed. People across the globe have witnessed the power and potential of Bitcoin and it really does not matter anymore what he needs to say and think about Bitcoin because Bitcoin users are already indulged in the discussion of rising price of Bitcoin and its future and have no time to hear such useless statements.

Exactly! Jamie was negative because this was his personal stance. He didn't like it, he didn't see value in it and he liked to go public with his statements because it put him in the spotlight. After it became known that not only his daughter but employees are into Bitcoin he quickly backtracked and is now slowly becoming a supporter. He won't make up his mind though. If Bitcoin starts to crash he'll be among the first to say "I told you so".

As far as I know, Jamie Dimon was charged with financial fraud. he criticized bitcoin, and he invested in it money and violated the laws. And now he suddenly became a fan of cryptocurrency.

Simon's opinions on cryptocurrency are not necessarily representative of JP Morgan as a whole.

It's not like JP Morgan has been constantly changing its position - Dimon's comments were very offhand, while JP Morgan's statement was the actual company's attempt at analysis.

That said, claiming that BTC could be a new asset class is not necessarily positive in the short term, because it gives little justification for the changing price.  Trying to avoid treating it as a currency could end in tears.

I think this is a worthy statement, not every person of this level can change their minds, and even make it public. I'm trying to understand why he changed his mind, so far only one thought, I think he saw how many people have been investing in bitcoin, the bitcoin support force