JP Morgan's Chief Executive Jamie Dimon says BTC is in a bubble - Really?

[Stedsm]

Well, there's no such base to the theory Jamie Dimon, Chief Executive (JP Morgan) used to throw such a public statement claiming Bitcoins are in a bubble and may soon burst. There are investors, traders, billionaires who have their money put into Bitcoins, should they worry?

I think NO. Here's a contradictory claim by a Wall Street "bear" Tom Lee, Co-founder at Fundstrat Global Advisors who thinks that "Bitcoin will reach $25k by 2022 as he thinks that Bitcoin is a hedge against inflation as well as he bases his prediction taking young investors into consideration, he says that these type of investors believe that Bitcoin is the best possible investment of all time. He said that there are not more than 300k wallets which possess a portfolio of over $5000 per wallet and thinking that Bitcoin is in a bubble means comparing it to those who thought iPhone adoption was a bubble too and were proved wrong when over 500k consumers bought one within 4 days of its release in 2007."

More about his prediction here - https://twitter.com/CNBCFastMoney/status/908454383968559107

Do you believe we are in a bubble?

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[ManavKalyan]

Absolutely, He said that he'd fire anyone in his division trading in bit coin! and the new is that JP Morgan acquired bitcoins soon after his remarks!

McAfee's reply to Dimon in an interview with CNBC (If I recollect correctly) was " It costs us about $1000 to mine 1BTC how much does it cost to make $ bills"

Whos the fraud here!

[Red-Apple]

do we really need a new topic about this idiot?

the idiot said some crap about bitcoin and there is a very good chance that their team was planning on buying in and making a huge profit. and they have made it if they bought in after the FUD was publicly spread!

and we are still sulking while they are swimming in money :|

[Emoclaw]

We're in a bubble, but this bubble is many years from popping.

do we really need a new topic about this idiot?

the idiot said some crap about bitcoin and there is a very good chance that their team was planning on buying in and making a huge profit. and they have made it if they bought in after the FUD was publicly spread!

and we are still sulking while they are swimming in money :|

No one's sulking here, there's no reason to. He said he'd fire anyone at JP Morgan who traded Bitcoin though.

[KaranRaut]

If you ask me Dimon's organisation is the fraud!

[prstp]

Well, there's no such base to the theory Jamie Dimon, Chief Executive (JP Morgan) used to throw such a public statement claiming Bitcoins are in a bubble and may soon burst. There are investors, traders, billionaires who have their money put into Bitcoins, should they worry?

I think NO. Here's a contradictory claim by a Wall Street "bear" Tom Lee, Co-founder at Fundstrat Global Advisors who thinks that "Bitcoin will reach $25k by 2022 as he thinks that Bitcoin is a hedge against inflation as well as he bases his prediction taking young investors into consideration, he says that these type of investors believe that Bitcoin is the best possible investment of all time. He said that there are not more than 300k wallets which possess a portfolio of over $5000 per wallet and thinking that Bitcoin is in a bubble means comparing it to those who thought iPhone adoption was a bubble too and were proved wrong when over 500k consumers bought one within 4 days of its release in 2007."

More about his prediction here - https://twitter.com/CNBCFastMoney/status/908454383968559107

Do you believe we are in a bubble?

Way too early for bubble. We are in the 1st inning.

[Prince8]

there will always be people talking..
if the fundamentals doesnt change, why would we care ?

[CryptoBry]

Things are getting clearer by now...those people who are accusing Bitcoin to be just another bubble comparable to that famous tulip bulb mania centuries ago and therefore a fraud are actually the people who are fraud. Okay, I understand their concern that they don't want people to play something that can produce fire but we are all adults here and most Bitcoin holders know the risks involved with cryptocurrency. We should be careful with the people we are listening too because they might have some agenda hidden under their sleeves.

[DortheyLedwig5010]

Bitcoin rose a lot in few months. It can be called a bubble. It will burst and then form another one again.

[Blinken]

Jamie Dimon saying that Bitcoin is a fraud and a tulip bubble is a buy signal.

[szpalata]

Jamie Dimon saying that Bitcoin is a fraud and a tulip bubble is a buy signal.

James Dimon has lost his credibility since 2008 and I don't know why some people still give him their attention , if it's a fraud he should keep it to himself and let us be rather than propagating falsehood in order to create FUD.

[peterthegreat]

Yeah and then he went and made the price crash to buy billions worth if Bitcoin. LOL

[lucifochrome]

This man really is a business man, He made false claims against bitcoin saying that it is a fraud, then it is a bubble that will soon burst but if think carefully it is how he will make more money. With his name or reputation on the line he have the power to influence people. If he said that it is a fraud some people will think that it may be when in fact it really is not, now this will or may have caused the down fall of bitcoin's price in the past week but this really is just his strategy so he can buy more bitcoin. Almost a week ago bitcoin reached 5k and after the long wait of bitcoin's price rising and falling upon reaching 5k it seemed that it may not go back down and will rise continually when suddenly bitcoin's price dropped to 2.9k, I am not saying that this man may be the cause of that or in this case his statement about bitcoin that the price fell drastically, it could be a lot of things but if it is his sole intention to spread false news so that it can cause panic and people will start selling then with the law of supply and demand the bitcoin's price will drop. That is the perfect time to buy substantial amount of bitcoin because if it goes back up to 5k then the profit of this man will double. say if he invested one thousand bitcoins, after a few months that will double and he will be laughing his ass off. Who cares about reputation when you can make billions of dollar out of it. I for one will also do that if i were on his shoe.

[ramsdaj28]

Well, there's no such base to the theory Jamie Dimon, Chief Executive (JP Morgan) used to throw such a public statement claiming Bitcoins are in a bubble and may soon burst. There are investors, traders, billionaires who have their money put into Bitcoins, should they worry?

I think NO. Here's a contradictory claim by a Wall Street "bear" Tom Lee, Co-founder at Fundstrat Global Advisors who thinks that "Bitcoin will reach $25k by 2022 as he thinks that Bitcoin is a hedge against inflation as well as he bases his prediction taking young investors into consideration, he says that these type of investors believe that Bitcoin is the best possible investment of all time. He said that there are not more than 300k wallets which possess a portfolio of over $5000 per wallet and thinking that Bitcoin is in a bubble means comparing it to those who thought iPhone adoption was a bubble too and were proved wrong when over 500k consumers bought one within 4 days of its release in 2007."

More about his prediction here - https://twitter.com/CNBCFastMoney/status/908454383968559107

Do you believe we are in a bubble?

Is that even a question? Try to observe the movement of bitcoin price in the market. What do you think? Is it in a bubble? For me, and based on the market, it is not really in a bubble at this point. When we say in bubble, it should show obvious evidence that bitcoin is in danger. As of now, bitcoin is rising up again, and people who doubt about its potential will be a loser in the future.

[DoublerHunter]

Bitcoin is not in a bubble because the price of bitcoin is real and it is what it is because of the demand of the people and those people who believed that bitcoin has a lot of potential for the future and i think that in the future we can hear more people saying that bitcoin is on a bubble but those people will eat their words as the price of bitcoin will continue to go up.

[AVAMONEY]

Jamie Dimon saying that Bitcoin is a fraud and a tulip bubble is a buy signal.

James Dimon has lost his credibility since 2008 and I don't know why some people still give him their attention , if it's a fraud he should keep it to himself and let us be rather than propagating falsehood in order to create FUD.

we need to filtering out which news that are eligible
i'm sure Dimon states will not affect to market, since his not credibility at was

[BillyBobZorton]

do we really need a new topic about this idiot?

the idiot said some crap about bitcoin and there is a very good chance that their team was planning on buying in and making a huge profit. and they have made it if they bought in after the FUD was publicly spread!

and we are still sulking while they are swimming in money :|

Is it actually good that his words get exposed to no end, now that:

1) The price of bitcoin is recovering with tremendous power. This is one of the strongest recoveries we've ever seen and I've been watching the bitcoin prince since MtGox.
2) Jamie Dimon has no credibility after the price recovered so quikcly, but specially after the idiot said he would fire anyone trading crypto on behalf of JP Morgan, yet they were buying the dip like crazy the other day.

After these events happened followed by price recovery, they are going to remain quiet as we go ATH.

[haroldtee]

I totally like the comparison with the IPhone bubble. I can't honestly say if Jamie is just so unintelligent to spew such rubbish from his mouth or he just purposely decided to want to remain blind and hypocritical. All those statements he made even made him loose more credibility he has been trying to manage over the years and no one for sure actually cares how irrelevant he is or has been to the society at large. The statement that even got me laughing the most apart from the tulip bulb thing was;

"If a JPMorgan trader began trading in bitcoin, I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous."

I really pity that man! Who is the stupid one here?