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Topic: JPMorgan Chase bank backs Square's $50m Bitcoin investment - page 2. (Read 337 times)

legendary
Activity: 1372
Merit: 2017
With regards to Jamie Dimon's stance though, you should look at where he is coming from. He is a banker, so of course they will attack bitcoin at any cost. However, it was uncovered that the attack was well orchestrated, After the Boss Calls Bitcoin a 'Fraud' — JP Morgan Buys the Dip . And obviously they make a lot of money from their investors and clients back then.

Yes, maybe what he is interested in for some reason now is to pump the price of bitcoin. It's not that he believes in the intrinsic properties of bitcoin or in how positive crypto currencies can be for society. He's probably got a bunch of bitcoin nowadays. Both personally and for his company. So, I don't trust him, his personal comments are aimed at trying to further increase personal profits.
hero member
Activity: 2660
Merit: 551
With regards to Jamie Dimon's stance though, you should look at where he is coming from. He is a banker, so of course they will attack bitcoin at any cost. However, it was uncovered that the attack was well orchestrated, After the Boss Calls Bitcoin a 'Fraud' — JP Morgan Buys the Dip . And obviously they make a lot of money from their investors and clients back then.
member
Activity: 211
Merit: 55
Major crypto media and financial news are reproducing today a Coindesk report on Square's investment on Bitcoin.

It describes a recent analysis by JPMorgan that reports Square Inc. Bitcoin investment as "a strong vote of confidence for the future of Bitcoin". I tried to find this JPMorgan report but I couldn't find it. I looked at JPMorgan's website and other sources, perhaps it wasn't published on the internet, or I missed something. If someone has a link to this JPMorgan report or has a copy of it, this would be great to read it whole.

Quote
Other payment companies will also likely follow in Square's footsteps or risk getting shut out of a growing segment, the JPMorgan analysts wrote.

JPMorgan Chase Bank has been surprisingly favorable to Bitcoin lately and from one of the biggest enemies, with CEO Jamie Dimon waging a war of words in previous years, now appears to have softened its stance.

Square also released what they call a "Bitcoin Investment Whitepaper", link to the pdf is here.



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