There was something deeply ironic about Jamie Dimon calling bitcoin a fraud, and then doubling down to say governments would eventually ban cryptocurrencies outright. First were the reports of J.P. Morgan, the venerable Wall Street bank Mr. Dimon helms, moving shares of Bitcoin XBT immediately after he made his initial comments Sept. 12.
J.P. Morgan representatives made clear in the aftermath that the bank was only trading on behalf of its customers, who were placing orders for Bitcoin XBT through its system. They were presumably doing so to take advantage of the dip in bitcoin valuations Mr. Dimon’s comments caused. But aside from the apparent hypocrisy between Mr. Dimon’s comments and his firm’s actions—not to mention his threat to fire any employee who trades bitcoin—there’s a deeper point that was missed. Namely, Dimon has failed to hear—or is simply ignoring—what his own clients are trying to tell him.
He also is completely out of touch with what his own firm is doing. There was more than just a little irony, bewilderment—and I would think, embarrassment—at the cryptocurrency breakfast and discussion that J.P. Morgan Private Bank hosted Sept. 12 in San Francisco for its high net worth clients.
More of this exciting newsarticle here...This is man is indeed right now the epitome of what it mean to be an ironic man. Definitely, not the Iron Man but the IRONIC MAN! But he got the kind of publicity and buzz that he might be craving for and he can already be a part of the Bitcoin history belonging to the antagonists side.
Now, it is also ironic that the market seems to be willing to what the man is saying even if we know for sure that Demon is not an expert on cryptocurrency and he is representing a sector and a firm which is about to be disrupted by Bitcoin. This is akin to always be swayed to what your enemy can be saying.
Do you think that the market should continue on listening to what this man can be spewing in the public?
