The total market cap for cryptocurrency went over $370 billon today, surpassing the market cap of JPMorgan Chase. Perhaps Jamie Dimon might have to eat some crow for Christmas.
It may be time for Jamie Dimon, the CEO of JPMorgan Chase, to get ready to start eating some humble pie. As everyone who’s interested in cryptocurrency knows, Dimon has really loathed Bitcoin, taking every opportunity he can to bash it. His constant bellyaching about Bitcoin has made him an object of ridicule in the crypto world. Well, the worm has finally turned as the total cryptocurrency market cap is now higher than that of JP Morgan Chase.
WHO’S LAUGHING NOW?
CNBC is reporting that, as of 6:50am London time, the total market value of all the various cryptocurrencies reached an all-time high of over $370 billion. The numbers are glorious to see, which you can view at Coinmarketcap. By comparison, the total market cap for JPMorgan is $366.8 billion.
Back at an Institute of International Finance conference last October, Jamie Dimon had this to say about Bitcoin:
I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If you’re stupid enough to buy it, you’ll pay the price for it one day. I’ve also told people that it can trade at $100,000 before it trades to zero. Tulip bulbs traded for $75,000 or something like that.
Read more: http://bitcoinist.com/cryptocurrency-market-cap-now-higher-jpmorgan-chase/