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'Not My Cup of Tea': Jamie Dimon Is Still Not a Bitcoin Fan
The JPMorgan Chase CEO said it's only a matter of time before the government moves to regulate bitcoin.
By Danny Nelson
Updated Sep 14, 2021, 10:32 a.m. Published Nov 18, 2020, 3:17 p.m.
JPMorgan Chase CEO Jamie Dimon said blockchain will have a pivotal role in the future of finance even if bitcoin, the market-leading cryptocurrency that made blockchain famous, is not his "cup of tea."
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Speaking at the New York Times' DealBook Conference Wednesday, Dimon reiterated JPMorgan's support for blockchain technology as a potentially transformative financial mechanism.
"The blockchain itself will be critical to letting people move money around the world cheaper," he said. (His bank made waves recently with the launch of its "JPM Coin" for wholesale banking payments). "We will always support blockchain technology."
But Dimon refused to give ground on his opposition to bitcoin.
He repeated his longstanding belief that governments will ultimately more heavily regulate it (something echoed recently by fellow billionaire Ray Dalio). Oversight is inevitable for something so large, he said.
Even so, Dimon acknowledged that "very smart people" are buying into the cryptocurrency in the belief that it will outperform gold, the U.S. dollar and U.S. Treasury bonds.
"Let them do that," he said. "It's just not my cup of tea."
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Ano ang dapat malaman:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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