I don't buy Jamie Dimons bluff.. it was too easy to call

A few days ago JPMorgan CEO Jamie Dimon made headlines by stating that his daughter bought Bitcoin "and now she thinks she's a genius" and stated that all traders at JPMorgan who get caught will be fired. Here's a video about it in the unlikely case, you haven't watched it.

Bitcoin immediately dipped as you can see here in this chart:

The currency still hasn't gained back all its value although many Bitcoin believers saw this as a good moment to buy cheap.

Dimons argument to his assessment was that governments don't like when there is competition that takes away the control of the money supply from them. If it's getting too dominant and disturbs thir monetary policy too much they intervene. As you can see with the Chinese decision to clamp down the trade with the currency, those measures can be very drastic and kill off the entire thing.

This, as Dimon argues, might also happen in other countries and most notably in the US, Japan and the Eurozone.

Then some wok Bitcoin trader saw this:

Looks like JP Morgan was one of the biggest buyers of Bitcoin today https://t.co/Z1gjlNgrwk pic.twitter.com/sgH5js7xE1

— ICOindex.com (@ICOindex) 16. September 2017

Apparently Dimon said the one thing, then the price goes down massively because he is such an important person when it comes to financial matters, but as it now seems that was just a bluff which had the intention that JPMorgan could buy cheap.

I have five objections to the version that Dimon bluffed

1. Dimons initial argument is sound. Bitcoin is directly threatening the central bank system and therefore the ultimate power of the governments (or those behind the curtain). That must not be allowed and it is known that there are technological means to kill off Bitcoin and other crypto currencies that might be dissenting from the monetary monopoly.
2. Banks buy and sell for their customers and some of them (among them surely big players) could be interested in Bitcoin. That means, it is very well possible that the JPMorgan Switzerland acted on behalf of one or several customers there (e.g. Russian oligarchs).
3. The buy order was much too public. A real bluffer doesn't show his hand even if he wins, because there might be a next time. It's like with the boy who cried wolf.
4. If it is a bluff, much more interesting would be a double bluff, which means that JPMorgan (or someone affiliated) placed a couple of bets on a rising volatility of Bitcoin and after the dip they cashed in without anyone noticing what was really going on.
5. Or maybe Dimon actually told the truth about his daughter and was angry about her and decided to play her in public.

Bottom line: There are enough reasons to believe that JPMorgan still isn't buying into Bitcoins. Crypto currency technology yes, since Dimon talked positively about blockchains as the valuable core of the technology. But not crypto currencies themselves.

Last but not least one must never forget that the easiest explanation usually is the best one and that would be objection two and five: The purchases were for customers and he did the public bashing because his daughter teaed him and made him look bad. I would give that scenario a 1/3 chance of being the truth.