Make no mistake, Jamie Dimon is the leader of Wall Street. Even if he wanted to support Bitcoin, he is not allowed to. It's a conflict of interests for himself and his employer.

However, his comments should not be dispelled. He is undoubtedly plugged into the committees and social circles that will define regulation on the entire market. He seems to be insinuating the SEC will be unkind towards the crypto market. No surprise there. Rickards has been saying the same thing.

If this occurs, it will prevent new liquidity from entering the market and allowing Wall St time to create their own block chain tech to compete against Bitcoin and others. Regardless of the emotional narrative of a "revolution" being attached to Bitcoin, the ultimate metric of what will appreciate in value is number of users, what is legal, and what is used in transactions.