Recently, Jamie Dimon called bitcoin a “fraud” and bitcoin markets saw a correction the following day stemming from Chinese exchange closures. Interestingly enough, JP Morgan Securities Ltd., bought up a bunch of bitcoin-based exchange-traded notes during the dip. The Wall Street mogul was even called out for market manipulation, and a report was filed with the Swedish financial authorities. The London-based algorithmic liquidity provider Blockswater explained Dimon had broken the financial bylaws within the European Union’s Market Abuse Regulation (MAR) articles.
Then this Thursday Dimon was recorded by the news outlet CNBC saying, “I wouldn’t put this high on the category of important things in the world, but I’m not going to talk about bitcoin anymore.” Then Marianne Lake JP Morgan’s CFO said, “we are open-minded for digital currencies that are properly controlled and regulated.” However, according to CNBC after these statements the very next day at the Institute of International Finance conference, Dimon had some choice words for bitcoin investors.
“If you’re stupid enough to buy it, you’ll pay the price for it one day,” Dimon explained to attendees of the event.
Dimon’s opinions also follow bitcoin’s spectacular climb to the $5,840 territory on October 12. The decentralized currency has been on a record climb all year outpacing a majority of stocks, state-issued currencies, and commodities. Despite the price spike, Dimon is not in the least bit interested in bitcoin’s market value.
Full story at http://bit.ly/2z8rRnB
Source: Bitcoin News
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