The cryptocurrency Bitcoin has been making a splash all around the world in the past year. And of course experts will give the world their opinion. Bankers are no exception, especially when the topic of discussion has to do with money and can be viewed as a threat to their long established program. However, sometimes words are exactly that; just words.
Chase, Dimon, and the Bitcoin
J.P. Morgan Chase and Co. is one of the most well known banks in the United States, and even around the world. The bank has a rich history in the North American nation beginning in New York of the year 1799. Moving up the ladder in this bank takes time, knowledge, and experience, and Jamie Dimon has done just that. Dimon has been the CEO of Chase since 2005 and is well liked by his peers and his employees. But there is something that the Bitcoin community might hold some hard feelings towards him for. He hates the cryptocurrency.
In the past week he has not once, but twice voiced his opinion on the “fraud” letting the world know he believes it will flop and fail. His most recent interview with CNBC he stated that he was concerned about the rise of cryptocurrencies, and honestly feels that governments will crack down hard on them. But just to be clear, it isn’t the digital currency he does not believe in, but finding the “value out of thin air”. But I supposed claiming to fire any employee trading Bitcoin is a nice way of showing how he feels on the topic.
What is the truth?
Yet despite Dimon’s words, Chase seems to have a decent interest in the cryptocurrency world. The original comments by Dimon plunged the market. However it was already on a down tilt with the ban of cryptocurrency exchanges in China. But after the market drop slowed as it turns out J.P. Securities Ltd. was one of the top buyers on the 15th of September. User “IamNomad” posted a picture on Twitter displaying this occurrence. The tweet shows that J.P. Securities Ltd. had purchased 19 thousand bitcoins, and also sold 9.9 thousand on Bitcoin XBT. These numbers left the company with 9.1 thousand net growth on the stock. These numbers left the bank 4th on the most purchased list for the day.
And on a brighter note, did you know that you can buy Bitcoin with Chase QuickPay?