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Author Topic: [2017-12-06] Cryptocurrency Market Cap Now Higher Than JPMorgan Chase  (Read 1264 times)
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December 06, 2017, 01:24:39 PM

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.


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.

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December 06, 2017, 03:15:46 PM

Jamie Dimon already did his part for the crypto currency, his statement last October affected bitcoin's price positively and Bitcoin just proved that it can overcome those kind of FUDs. We should thank Jamie for that, he brought a lot of investors to the crypto currency world.

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December 06, 2017, 04:18:31 PM

This would be a slap in the face of JP Morgan's CEO, Jamie Dimon as he was clearly showing hate with it even if Bitcoin was priced at 3000$ now it is 4 times its price and he could be eating his own words now calling people who buy Bitcoin stupid. He is the type of people who he knows he has the power to influence the market saying negative things about Bitcoin, and it has been rumored that he himself bought Bitcoin when it got down because of his words. People like this one should not affect us as it is his own opinion and we all have our personal biases.

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