JPM CEO Jamie Dimon goes from bashing crypto to seeing it as competition

28 Jun, 2019
by Alberto Arnaldo
News
JPM CEO Jamie Dimon goes from bashing crypto to seeing it as competition

Jamie Dimon, CEO of JPMorgan Chase, the largest bank in the U.S. and one of the first to jump into crypto, appears to be growing less and less weary of digital assets.

From his early comments, labeling Bitcoin as “a terrible store of value” and a fraud, Dimon went to regretting some of them. Right on time for the unveiling of the JPM coin.

In what appears to be a road to redemption, now the leader of the largest bank of the world by market cap is viewing crypto under a different light. In a recent interview with Yahoo Finance, Dimon publicized his renewed opinion on the sector:

“Blockchain is real, and I think competition is real”.

However, Dimon does not think that Bitcoin is a real threat for JPM, given that they “move six trillion dollars around the world: it´s very cheap, very secure and it works”.

Dimon seemed to play a naïve role towards the information published earlier this week by the New York Times. An article assured that JPMorgan, Fidelity and Goldman Sachs had been invited by Facebook to join the Libra project. The CEO of JPM said he had not spoken with Facebook about it, “but it´s very possible someone in the company did”.

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