The story is already debunked.
http://www.businessinsider.com/bitcoin-price-jpmorgan-looked-like-it-was-buying-after-dimon-called-fraud-2017-9"They are not JPMorgan orders," a spokesman said in an email to Business Insider."These are clients purchasing third party products directly."
In other words, JPMorgan asset managers weren't buying this product for their clients. Rather, the bank's clients were using JPMorgan's pipes to buy it themselves.
For example if I buy stocks in Apple it doesn't mean my bank is investing and expanding their portfolio..
Also If I buy dope online doesn't mean my bank supports legal marijuana.
Thanks for being the voice of reason here. It doesn't make sense that they would make a very bearish comment on an asset that one of their clients is buying, does it though? But I guess that's why they're total scumbags. I am curious through which avenue (s) the bitcoins were bought and why JPM had to be involved. It's kinda interesting to me.
It's also interesting that Dimon still has a job after the banking meltdown of 2008. I know they're an investment bank but JPM definitely did some shady stuff. However, as I've said before, he's free to express his opinion on bitcoin just like we all are. And as regards the bubble--he might not be wrong.
