JP Morgan buys Bitcoin (after Dimon crashed the market)

[neurotypical]

JP Morgan, the global banking giant, has bought 19,102 bitcoin shares in the Swedish Nasdaq traded bitcoin ETN, translating to around 95 bitcoins, worth some half a million dollars.

They also sold around 9,000 shares, translating to some 40 bitcoins, seemingly keeping the rest, at least for now, according to data provided by the ETN.

http://www.trustnodes.com/2017/09/16/jp-morgan-buys-bitcoin-price-rises-20

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Price crashes and hours later the buy a lot of BTC.

Looks like panic sellers got played out by the whales again.

[1715033282]

1715033282

[MadMac]

Jamie is probably full of things that make his life easier, but not necessarily a sound brain working.

[ecnalubma]

Thats how they make money from creating massive panic. For sure some dumpers and amatuers will learn a lesson from that, but for those veterans its just the same old game.

I see that coming, these giants are still using old and seasoned tricks just to flip the market. They're using criticism to make large chunk of profits.

[MadMac]

He openly lied. If you would do this with any stock exchanged company he would probably go to jail.

[boyptc]

It's now popular in the forum and the same thread here https://bitcointalk.org/index.php?topic=2181784.msg21894881#msg21894881

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Very funny indeed, he puts his reputation and said everything he can just to give a fearful entry point for the upcoming investors as if he wants to get some more at good entry point.

[BrewMaster]

there has been a couple of confusing explanation about what really JPMorgan is doing regarding that picture but even if those explanations regarding this are true, that doesn't change anything!

even before this proof came to light, i had my suspicious that they must have been heavily involved with bitcoin and must have plans to make some profit from the ongoing situation.

otherwise there was absolutely no reason for him to talk about bitcoin being fraud out of nowhere there must have been some benefit in it for them.

[azguard]

Yea they said that bitcoin is fraud, but what is this now they are now "so called murderers, drug lord and people of north Korea" if i recall the article correctly, or it was south.
What do they think they are with some false news and now when thing are backed to normal now what. They didnt do anything with bitcoin, hardly.

[MadMac]

Well, how often can you do that? He did it now and he burnt himself. Nobody will listen to this clown afterwards. But maybe he thought the timing was right. They bought in massively, riding on the Chinese uncertainty. So probably not a bad move for JPM.

[btcdevil]

JPMorgan Dimon statement was to create panic as he knows that if he comment anything that will move the market and same the market reacted it. But it is the weakness of the weak hand traders who sell their coins on this type of fake news.

[TryNinja]

As other people already pointed out in other threads, this doesn't necessarily mean that JP Morgan is buying Bitcoin for themselves:

"This is Nasdaq OMX in Stockholm. JPM (as a broker) probably bought this Bitcoin fund on behalf of it's clients. Once something is listed on an exchange it's not very common for brokerages to discriminate what you can and cannot buy." - /u/TheDJFC

"That could be for clients through brokerage services. Not necessarily buying for corporate holdings. Big difference and misconception." - /u/ent4rent

"This is the list of brokers. Anybody whose ever traded knows what this screen is. Brokers are buying for clients, the purchases are their,s not the brokers." - /u/BTCrob

https://www.reddit.com/r/Bitcoin/comments/70e63z/dimon_called_bitcoin_a_fraud_and_told_he_would/
https://www.reddit.com/r/btc/comments/70e101/ceo_jamie_dimon_also_said_hed_fire_in_a_second/

[BillyBobZorton]

there has been a couple of confusing explanation about what really JPMorgan is doing regarding that picture but even if those explanations regarding this are true, that doesn't change anything!

even before this proof came to light, i had my suspicious that they must have been heavily involved with bitcoin and must have plans to make some profit from the ongoing situation.

otherwise there was absolutely no reason for him to talk about bitcoin being fraud out of nowhere there must have been some benefit in it for them.

It doesn't in fact change anything. The bottom line is, Jamie Dimon said that anyone trading Bitcoin is an idiot and should be fired from his company, yet HIS OWN COMPANY IS BUYING BITCOIN!!!!

I mean it doesn't take rocket science what's going on in here. CEO says something, then his company does the opposite. Someone is lying, or they are all together in this buying cheap BTC from the idiots that always sell on FUD. Pick one.

[mast3rm1nd]

I wouldn't put it past the banking bastards to do something like this. but if every time a CEO says some crap like that, the community falls into their hands; it doesn't look good for the bitcoin community.

[thoham]

Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

[Lmaooo]

Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

The easiest 30% discount, indeed! The big whales always wins! Newbies always got panic to fake FUDs and loose their profits in return!

[Qiuyue201]

As other people already pointed out in other threads, this doesn't necessarily mean that JP Morgan is buying Bitcoin for themselves:

"This is Nasdaq OMX in Stockholm. JPM (as a broker) probably bought this Bitcoin fund on behalf of it's clients. Once something is listed on an exchange it's not very common for brokerages to discriminate what you can and cannot buy." - /u/TheDJFC

"That could be for clients through brokerage services. Not necessarily buying for corporate holdings. Big difference and misconception." - /u/ent4rent

"This is the list of brokers. Anybody whose ever traded knows what this screen is. Brokers are buying for clients, the purchases are their,s not the brokers." - /u/BTCrob

https://www.reddit.com/r/Bitcoin/comments/70e63z/dimon_called_bitcoin_a_fraud_and_told_he_would/
https://www.reddit.com/r/btc/comments/70e101/ceo_jamie_dimon_also_said_hed_fire_in_a_second/

Is that means they are buying the bitcoin to the clients and that was not related to the companies? Because a lot of people are misunderstanding with it. But i just try to find the truth about that.
Some people believing in a and others in b.

[tyuner4]

Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

The easiest 30% discount, indeed! The big whales always wins! Newbies always got panic to fake FUDs and loose their profits in return!

Yes absolutely, the worst thing to do is to trust a banker.

[GreenBits]

I wouldn't put it past the banking bastards to do something like this. but if every time a CEO says some crap like that, the community falls into their hands; it doesn't look good for the bitcoin community.

i wouldnt either, and this should be illegal, as it would be if they did this to a registered security. with that being said, his opinions really matter for naught; and to listen to his actual full comments on the matter, it sounded like he had butthurt because his daughter invested and he didnt. . i was looking to confirm this story, it popped up on my linkedin feed when I first woke up. this still doesnt confirm it, per se, but it does lend credence.

but seriously, they really have to do something legally about the FUD, it literally drives the price. Fud, and uncurbed enthusiasm are the basis of our price

[SvenBomvolen]

That is clear now that JPMorgan's general director Dimon is just the biggest speculator of bitcoin prices. Obviously that it was his target to announce in his interview to Bloomberg that bitcoin is only for stupid. He just moved the price to go even more down and in the result they bought bitcoins by very good prices. Smart strategy.

[Carlsen]

This all looks a little bit strange to me.
A CEO playing with the reputation of his whole company just to get a few cheap bitcoins? That is very far fetched if you ask me.
I think I have read somewhere that 'jp morgan securities ltd' changed their name to 'jp morgan securities plc' back in 2012.
Why would they buy under the old name bitcoins?

[Jake052478]

it is business strategy then.. they wanted to shake the bitcoins prices so that they can buy more then sell it afterwards at a higher price.... so... you see.... this is what big players do to gain big... tsk tsk....