Top Investment CEO Shocked By Jamie Dimon Bitcoin Comments: ‘Major Banks Are All Spending Billions Of Dollars To Get In On Blockchain’

Last week saw some tumultuous moves in Bitcoin and the crypto currency market in general following news that China would be cracking down on ICO’s (Initial Coin Offerings) purportedly in an effort to prevent fraud and capital flight. Just days prior to these announcements, JP Morgan chief Jamie Dimon publicly said that Bitcoin is a fraud and that anyone in his firm caught trading the digital currency would be terminated. By the end of the week, it was revealed that not only were people not being fired at JM Morgan, but they were actively buying the crypto on European exchanges.
This begs the question: Was Jamie Dimon simply ‘talking his book’ by attacking Bitcoin and other crypto currencies so that his firm could load up after the price dropped some 35% from its all-time highs? Either that, or Dimon clearly understands the threat it poses to the banking sector as it exists today, including the profits from their multi-billion dollar customer fee structures.

This post was published at shtfplan on September 20th, 2017.