Topic: JP Morgan CEO, Jamie Dimon, another Charlie Munger? (Read 109 times)

Jamie Dimon and Warren Buffett repeated near word for word the same stance on bitcoin.

"I'll never buy it. I'll never own it. Blahblahblah."

Maybe their bodies have been taken over by aliens. That could explain similarity in their comments.

Or it could be the coke versus pepsi ethos of business rivals not wanting to acknowledge strengths of their competing brand.

Over the last century our banking institutions have closely resembled twitter in their lack of rolling out new features and innovations. Twitter developers love to parade an edit button as their cutting edge next generation technology which might "someday" be available. To a degree banks do the same with CBDC and blockchain. What type of person is the leader of these trends? People like Jamie Dimon apparently.

That's a normal statement from a guy who actually owns a bank, JP Morgan might be the last bank to adopt crypto because of this statement and that's ok because we have many options aside from this. Those are traditional people, they believe more on fiat money and stocks, they are against crypto simply because it's against their business but that doesn't stop this market from growing, Bitcoin become more powerful in the future, banks should already know this.

I mean isn't this acceptable and understandable? Think about it this way, Jamie Dimon is the ceo of a company that deals with fiat investments, unless JP Morgan suddenly starts their own exchange, or outright buys binance or another high level exchange, any investment that goes to crypto means less money available to invest into JP Morgan.

This means he has to dislike it. And when the time comes and they go into anything crypto related, suddenly "we found why it's good!!" and they love it. That's always like that, if they can't profit from it, and even lose because of it, it's bad, if they can earn from it, suddenly it becomes very good.

Those are bank and stocks people, they are very traditional and that’s why they hate Bitcoin so much.
This is not the first time for them to hate this, and let’s see if Jamie will stick to his statement that he will never buy Bitcoin. Bitcoin is indeed already immune with this one, the market is not affected anymore because many already know the real value of Bitcoin, and this is for the best so better not to listen to any fud and just look at the fact.

Your bank already did, so a little too late for that.

JPMorgan handles bitcoin-related trades for clients despite CEO warning
https://www.reuters.com/article/us-jpmorgan-bitcoin/jpmorgan-handles-bitcoin-related-trades-for-clients-despite-ceo-warning-idUSKCN1BT2E3

JPMorgan Chase Moves to Be First Big U.S. Bank With Its Own Cryptocurrency
https://www.nytimes.com/2019/02/14/business/dealbook/jpmorgan-cryptocurrency-bitcoin.html

In an ironic twist given CEO Jamie Dimon’s well-established distrust of the industry, JPMorgan has reportedly become the first major US bank to provide all wealth-management clients with access to bitcoin and other cryptocurrency funds.
https://www.forbes.com/sites/emilymason/2021/07/22/bitcoin-about-face-jpmorgan-opens-crypto-trading-to-all-clients/?sh=4a8bfa9044a5

JPMorgan Says Bitcoin Is Undervalued By 28%, Cryptocurrencies Are Now A ‘Preferred Alternative Asset’
https://www.forbes.com/sites/ninabambysheva/2022/05/25/jpmorgan-says-bitcoin-is-undervalued-by-28-says-cryptocurrencies-are-now-its-preferred-alternative-asset/?sh=28fc0ed31d70

The bank said bitcoin was undervalued by 28%, and put its price target for the coin, which was trading at just above $29,600 on Thursday afternoon, at $38,000 according to Markets Insider
JPMorgan’s positive outlook is notable because CEO Jamie Dimon is a longtime cryptocurrency skeptic. Dimon has said that he “personally think that bitcoin is worthless,
https://www.cnbc.com/2022/05/26/jamie-dimons-jpmorgan-says-bitcoin-has-significant-upside-now.html


Jamie says one thing and does another. People should learn that what these people write on social media is usually the exact opposite of what they're doing. Remember when Elon was posting laser eyes? Just weeks later he was dumping his coins and denying it, claiming that Tesla only planned to sell 10% to "test liquidity". This was such a bullshit claim because a few months later they really "tested the liquidity" by dumping everything on spot exchange in a single move to crash the price.

also this:
JP Morgan boss Jamie Dimon thinks it’s stupid that his daughter is trading in bitcoins, but says that bitcoins can reach $ 100,000
https://www.brytfmonline.com/jp-morgan-boss-jamie-dimon-thinks-its-stupid-that-his-daughter-is-trading-in-bitcoins-but-says-that-bitcoins-can-reach-100000/

First of all as I always say bitcoin as an asset is a big challenge to all the merchant banks who create synthetic derivatives in order to gain money from big companies and individuals. In fact these synthetic derivatives were one of the prime reasons of the 2008 crash as well. I feel one shouldn't feel bad with such comments as these people will obviously benefit from any harm which happens to bitcoin. They will curse bitcoin and later their banks will start providing bitcoin in the portfolio of their clients.

This is not the first time Jemie spoke bad about bitcoin. But when he spoke for the first time, the market reacted negatively. But then the market stopped giving shit to him. Warren Buffett is another prominent hater or bitcoin. He also spoke negative about it many times. But now the market is immune from such negative comments.

Haters will always hate and every good thing will have haters. That doesn't mean anything. It's a free world and anyone can have their own thinking process. Just learn to ignore!

IIRC, Jamie Dimon has said that in 2018 and then eventually changed it into likely a bitcoin lover but again there's another change. It's not a problem actually.
It's much better that we're seeing people who have bashed bitcoin and then eventually became one of us and started to buy and not just for themselves but for the company that they own.
It can also be a strategy for them to give fear to the market so that there will be a massive sell out for which will be used by them as an opportunity to buy more.

What is the problem? There is not supposed to be a consensus on a particular issue, as many people may change their views based on economic, financial, political reasons, fame and others. Therefore, even if most of the world’s population uses Bitcoin, you will find some criticizing it.

If these people mention technical information or economic analysis why the coin is “dirty” and expensive or why “I will never buy BTC” then the discussion will be substantive.

https://bitcointalksearch.org/topic/m.60565731
 I decided to refer to this old post since it actually relates to the situation at hand.
 It's not surprising that people still tend to criticize good things and Bitcoin in particular, and since everyone is entitled to his or her opinion, several hate speeches can be heard of about Bitcoin.
 JP Morgan CEO, Jamie Dimon has also come out to give his two cents in his take on BTC. He was heard saying on Twitter " I will never buy BTC".

 Speaking at the Institute of International Finance held in Washington yesterday, he tagged the coin as "dirty and "expensive". It's not a surprise as he speaks like a true banker. He also asserts that Bitcoin has no value and was quoted in October last year as calling the coin as worthless.

 But ironically, he remains quite bullish on the Blockchain as he is optimistic the technology could reduce some rigorous parts of banking.
 And Bitcoin be looking at this stuffed, opinionated folks like; "really?"🙄
https://u.today/jamie-dimon-slams-bitcoin-as-dirty-and-expensive