Dimon: I regret calling bitcoin a fraud

by Ben Pena January 10, 2018, 0:28
Dimon: I regret calling bitcoin a fraud

In addition to softening his stance on Bitcoin, Dimon reaffirmed his faith in the technology behind digital currencies - he stated that "the blockchain is real", and can even lead to "crypto yen and dollars". ICOs. you got to look at every one individually.

Dimon had called bitcoin a fraud at a bank investor conference in NY in September.

Since Dimon's initial comments, two large United States exchange groups have launched platforms on which investors can trade futures contracts in the cryptocurrency. Yet, soon after he opined that bitcoin buyers will "pay the price" if they are "stupid enough to buy it".

In October, Dimon said he was done talking about bitcoin following his controversial comment.

"I just have a different opinion than other people".

Dimon remained bullish on the prospects for continued growth, despite some Federal Reserve officials having gone on the record to caution that tax cuts and other measures could overheat the United States economy, leading to higher borrowing costs that might stymie growth.

Water Main Break At JFK Airport Causes Flood, Soaks Baggage Claim Area
Video shows streams cascading from a ceiling and people slogging through pools of water. Power in the affected area of the terminal was temporarily shut off for safety reasons.

Despite such steadfastly sceptical attitude and Dimon's promise to fire anyone working for J.P. Morgan, who would be caught investing in Bitcoin, the bank didn't stop moving towards new technologies and considered allowing its clients to trade bitcoin futures. "I'm not interested that much in the subject at all".

He was speaking to USA television station Fox Business Network on Tuesday about comments that he made at a banking conference a year ago.

The digital currency's price soared 1,300% past year.

However, Dimon made clear he was not going to become a cheerleader for bitcoin any time soon.

The price of bitcoin declined 1.4 percent to $14,760 Tuesday, according to data from industry website CoinDesk.

Recommended News

TOP News

SC refers plea regarding Section 377 to Constituition Bench
Why Supreme Court canceled the Delhi high court order? "Consent between two adults has to be primary". The apex court has now made a decision to constitute a bench to review Section 377 .

DJs React to Pres. Trump's Nuclear Button Tweet
US officials had understood the South Korean military would be heavily committed to providing logistical support for the Games. South Korea's defence ministry has said it had yet to see any evidence of an imminent missile launch.

Patriots' Brady denies celebrating Garoppolo's trade to 49ers
Brady also dismissed the notion of preventing Garoppolo from working with personal trainer and business partner Alex Guerrero. It seemed to show Brady wasn't on board with Garoppolo being his eventual successor.

Florida sees first snow in about 30 years
Flights across the nation have been canceled ahead of the predicted winter storm that is expected to hit the East Coast this week. Blizzard warnings were also in effect along coastal areas of North Carolina and Virginia, including Norfolk.

Ford F-150 Diesel Claims 250 HP, 30 MPG Ratings
The engine is an updated version of the 3.0-liter turbodiesel V6, nicknamed "Lion", first introduced on Land Rover models. But its Dagenham Engine Plant in Essex, England, where the engine is built, will be prepared to meet increased demand.

Ann Widdecombe says she thinks Meghan Markle is 'trouble'
She recently moved from Toronto, where " Suits " is filmed, to London to live with Harry. "I can see why your show is so popular". Former actress Meghan Markle has deleted her social media accounts as she prepares to Wednesday Prince Harry .

International Olympic Committee extends North Korea deadline for Pyeongchang Games
The North Korean Olympic committee had missed the October 30 deadline to register their participation with the IOC. South Korean President Moon and U.S.

Bumper Christmas as shoppers spend £1 billion more - English
Ocado comfortably outpaced the online market, increasing sales by 8.4% to account for 1.3% of the grocery market. Asda grew sales by 2.2 per cent, Morrisons recorded 2.1 per cent of growth while Sainsbury's was up two per cent.

Scary new study links ibuprofen to infertility
No direct effect on fertility was shown, but the results of this initial study suggest that it warrants further investigation. Some took 1,200 milligrams of ibuprofen daily, which is the maximum limit as directed, over a six-week period.

Chelsea and Southampton reportedly interested in Andy Carroll
The 28-year-old has struggled for form in recent weeks, but his brace reminded us of how risky he can be when on top form. Andy Carroll who is close to finishing his contract at West Ham, is also being targetted by Southampton .