Shouldn't Jamie Dimon be investigated for SEC fraud?
Seriously Jamie, what the hell are you doing?
All Crypto traders know that Bitcoin, and pretty much every other crypto, experienced a flash crash a little over a week ago. The two main factors that drove it were China's announcement that they were cracking down on ICOs and exchanges, and Jamie Dimon, the CEO of JP Morgan, calling it a fraud.
Of course, the weekend of the crash, JP Morgan was caught buying significant amounts of Bitcoin. In fact, they were the forth biggest buyer. (Thanks again, ZeroHedge and Twitter user @IamNomad!)
So, of course, last night, Dimon Doubled Down on his comments....
Since we didn't hear of any firings after JP Morgan brought Bitcoin in the last crash, I'm guessing we'll JP Morgan will load up again over the weekend.
Why pay full price when you can forcefully drive the price down?
People need to learn to ignore these people who obviously have a vested interest in getting the price to drop.
I think most crypto investors do ignore them, mostly. Either that, or use the news to try and buy the dip.
Years ago, if a business man and manager like JP Morgan CEO Jamie Dimon had made such a statement about Bitcoin or the crypto money sector, then all the crypto money enthusiasts would be very worried about these statements and maybe the sector could have been seriously hit. He could even be right, even thinking that governments could ban by making negative decisions about this sector. However, year 2017 and bitcoin, especially the whole crypto money sector finds entered into the golden age of the year is not much exaggerated.
Banning each passing day, governments are increasing their work on how Bitcoin and crypto money can be legalized. The cumbersome banking systems, paper and coin prints, which are indisputable to governments, must now leave their place to new solutions.
Many countries, including Japan and the United States, have already removed the laws that will now legalize Bitcoin or crypt money.
How smart would it be to stand in front of such an "anonymous" sector that has reached a market value of over $ 100 billion, providing convenience to people in their daily lives, saving money from transferring money in transit, saving on security, and providing hundreds of thousands of people with profit opportunities.
I leave the answer to this question ... Of course if you are not the owner or CEO of a bank :)
I don't doubt there there might be governments that try to ban Bitcoin or cryptos in general.... but the best they could do is make it illegal. They can't destroy it at this point. And as you pointed out, some governments aren't acting to ban it, and some others are looking to actively mine Bitcoin, or create their own.