[2017-09-16]If Jamie Dimon Hates It So Much,Why Is JPMorgan Buying Bitcoin In EU

[aysha9872]

Anecdotally, the post-Dimon collapse in crypto prices seems to confirm his view (though of course this is much more due to China concerns than a vested interest fearmonger), which makes us wonder... why is JPMorgan buying Bitcoin ETFs on European exchanges?

Nasdaq Stockholm has an actively traded Bitcoin ETN...

'Bitcoin Tracker One - SEK' is an open-end Exchange Traded Note incorporated in Sweden. The ETN is denominated in SEK and provides investors with access to the returns of the underlying asset, US Dollar per bitcoin, less investor fees.  The average USD exchange rate of bitcoin from the exchanges:- Bitfinex, Bitstamp and GDAX provides the underlying reference price which is converted into SEK.

In the last few days - as the underlying price collapsed - the ETN has remained bid, with heavy inflows, and now trades at around 20% premium to Net Asset Value...

And guess who has been buying?
JPMorgan Securities was the 4th biggest buyer...

Which suggest two scenarios... Either
    i) JPMorgan is buying for its own account at Dimon-manipulated-lower prices (remember Dimon said any trader who bought Bitcoin would be fored for being "stupid"), or
   ii) JPMorgan is buying for clients, seemingly offering no sense of fiduciary care amid Dimon's warning to the world that the cryptocurrency is a fraud (is JPMorgan Securities knowingly allowing clients to buy securities it believes are a fraud?)

read more: http://www.zerohedge.com/news/2017-09-16/if-jamie-dimon-hates-it-so-much-then-why-jpmorgan-buying-bitcoin-europe

[DooMAD]

Classic bankster market manipulation, straight out of the playbook.  Should have seen it coming.  And I bet they were also banking on the belief that no one would notice them making those buys.  Shine a light on this.  See if we can get it from ZeroHedge, who, while certainly more reputable than the mainstream, sadly don't get seen by the majority of people, to somewhere more noticeable.  Make everyone see just how much of a fraud the banksters are.

[CryptoBry]

Jamie Dimon must be a good liar then and he is using this skill to make money out of the Bitcoin marketplace. This is confirming the popular suspicion that he is just trying to bring down the price of Bitcoin so they can buy at a better level. Anyway, we should not anymore listen to any man having the kind of reputation. He is not deserving a space in the media and in this forum. Go to hell, Mr. Jame Dimon! Okay, am just kidding.

[aso118]

I don't think JP Morgan will be buying for its own account. The reputational risk associated with it is way too high. It must be some clients with a Bitcoin focus, on behalf of whom JP Morgan is making those trades.

[SvenBomvolen]

Here there are two scenarios:
1. JPMorgan buys for it's own account at lower price manipulated by Dimon (remember, he said that any trader who bought bitcoin will be considered as "stupid").
2. JPMorgan buys for clients, it seems, without thinking about it's role amid warnings of Dimon around the world that cryptocurrency is a fraud (Does JPMorgan Securities usually allows to it's clients to buy securities knowing that they are fraudulent?).

[Terraformer]

Jamie Dimon must be a good liar then and he is using this skill to make money out of the Bitcoin marketplace. This is confirming the popular suspicion that he is just trying to bring down the price of Bitcoin so they can buy at a better level. Anyway, we should not anymore listen to any man having the kind of reputation. He is not deserving a space in the media and in this forum. Go to hell, Mr. Jame Dimon! Okay, am just kidding.

It seem like all these bankers, Nobel laureates, talkers, are not able to realize the scale of cryptocurrency and bitcoin infiltration in our life. It`s brand new revolutionary technology, lazy bank system just can`t compete with cheap, fast and transparent crypto transactions. Bankers just afraid to lose their bacon.

[1Referee]

It seem like all these bankers, Nobel laureates, talkers, are not able to realize the scale of cryptocurrency and bitcoin infiltration in our life. It`s brand new revolutionary technology, lazy bank system just can`t compete with cheap, fast and transparent crypto transactions. Bankers just afraid to lose their bacon.

At the end of the day, we can't exactly blame banks for being in panic when something like Bitcoin is taking over rapidly. Imagine how things are when you are selling something that people can only buy from you, and suddenly someone else has a far better product to offer, and that for a fraction of the price - you would definitely start sweating. Before Bitcoin, banks were likely thinking to continue their central position in the world economy for plenty of more decades, but that has officially come to an end with Bitcoin. If it was up to the banks, we would likely start to see them roll out free and instant world wide transactions somewhere in 2025-2030, if ever. Bitcoin is pushing things forward, and forces banks and other financial institutions to evolve faster than ever before.

[greeklogos]

That was Dimon's plan to say so to make the price to go even more down to JP Morgan could buy it buy cheap price. He have said that even his dauther invest in bitcoin and I think she invests in it from the face of all the family, they just covering by her.