Jamie Dimon says he regrets calling bitcoin a fraud and believes in the technology behind it
J.P. Morgan Chase CEO said he regrets calling bitcoin a fraud.
"The blockchain is real," Dimon tells Fox Business.
Dimon remains concerned about how "governments are going to feel about bitcoin when it gets really big."
I'm not the guy that kicks people when they are down. When someone caves on a position, I'm the guy who normally says "great job for admitting you were wrong." I am now firmly going to plant my foot in Jamie Dimon's ribs - WITH GLEE.
I am not accusing you of a "FUD and load" like some others Jaime. Many have said your "Fraud" statement was a crazy scheme for you to buy more bitcoin at lower prices. That that reasoning is illogical, because you have more money that God, and your reputation for being an all knowing banker is more important to you than a quick buck. That's not what this is about.
Here is my problem with your previous statements on bitcoin, and why it feels so good to kick you now. You were a complete arrogant fool. Instead of investigating why millions of really smart people, world-wide, were investing in bitcoin technology, you dismissed it because you - an all powerful banker - didn't think it made sense, after probably about 2 hours of study. Now it's one thing to state it like Buffet, who basically says, "I just don't know what to make of this bitcoin thing, so I'd stay away from it." You could have said that Jamie, but instead, you said it was a "fraud," and all us Bitcoin investors were "stupid" - WHEN YOU WERE THE IDIOT.
Here is why I won't give you credit for changing your mind - you had no choice. CME, NASDAQ, GOLDMAN, etc.... That may not be a complete sentence, but it paints a complete picture. Need I say more. Your peers, the market, and probably your employees, were all telling you, in many different ways, you were were wrong. You finally saw the nose in front of your face. I can't congratulate you for that.
Better late then never Jamie - let me know how my foot tastes.