JP Morgan was caught purchasing Bitcoin on September 15, while its CEO calls Bitcoin as "fraud" !!!!

in news •  last year

Just recently Jamie Dimon, the boss of JP Morgan called Bitcoin as "fraud" and also claimed that he would immediately fire any employee in his firm if anyone trades in crypto-currency. And now JP Morgan has been caught red-handed purchasing a bunch of XBT(XBT is the ISO code for Bitcoin and BTC is a code which became popular as people have been using it) shares. XBT are also known as exchange-traded-notes, that track the price of Bitcoin.

According to public records of Nordnet trading logs, the two associated firms JP Morgan Securities Ltd., and Morgan Stanley bought roughly 3M euro worth of XBT note shares. Interestingly after the recent regulatory crackdown in China, and the statements from JP Morgan’s senior executive Jamie Dimon talking trash about bitcoin, his firm bought the dip on September 15. In fact, out of all the companies on the list, like Goldman Sachs and Barclays, the JP Morgan team of buyers purchased the most XBT notes.

(Source : Twitter posted by I am Nomad - @iamnomad)

The above picture was tweeted by the I am Nomad in Twitter which clearly shows the purchase made by JP Morgan. Also JP Morgan applies for Bitcoin patent for 175 times : o which was rejected all those times. The company is also working on an ethereum-based blockchain alongside. With the ethereum project called “Quorum,” JP Morgan has its own Github repo that explains how the permissioned blockchain does not need consensus mechanisms like Proof-of-Work (POW) or Proof-of-Stake (POS). I mean the Proof of work made Bitcoin what it s now why they are not going along with it ?

Here is a meme I came across which I found it funny.

(Source :

The company is trading crypto-currency whether Jamie Dimon agrees with it or not. He made a very good move by doing it as he just used his power and right time to make it work. Also this is kind of unfair as he just manipulated the market with his power. Please comment your views on this topic.

You can check out my post on Jamie Dimon calling Bitcoin as fraud from here : Jamie Dimon attacks bitcoin saying that it is fraud.

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great article and info ! Thank you !!

everyone at JP Morgan is trading bitcoin.. who do you think is making all the real cookie dough. he'd have to fire them all !! in fact they might all just walk when they've made enough to retire on.. these banking punks will have invested thousands of their pocket money in crypto.. there's probably a few of them lurking around steemit pretending to be devs !


They are for sure here too. Having so much precious information at their hand it is simpler than any of us to make profit here too.

Lol... i can imagine that some boys there having accounts here like Mrs Janine or DevJoceline and showing posts with trips from who knows where and from time to time some big news from inside banks world... hahaha

But, good for them, if they have the chance to profit now is the time.


Ya lol so true


'Sup, "outers" :D

I agree, prolly lots of Bank$ter$ lurking... O.o

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JP Morgan and their family down the generations know one thing and that is to corner the market manipulate it and have control over it.
The best tool to use is scare tactics, which we've just seen, and it don't hurt to have control over the governments, anyone who believes the politicians are not in bed together with them is just blind, they control the money, and in doing so control the countries.
Bitcoin revolutionized the market and we all can profit, but the sharks are out there seeing billions slipping thru and had to get into this market, they will buy up enormous amounts and then dump them to crash it, take profits and buy again at lower prices and dump again.
You just have to be ready to do the same, when there's is a big sell off, it's a sell and when it's drops, buy back in at a lower price, they are using the crypto market just like anyone else, to profit, but they got much deeper pockets.
Nice read good post thanks for sharing!


ya so true man I heard about this - buying huge to get the prices up and dumping them and price falls again same repeat as you said. thanks for sharing man : )


Hey as long as we know their secret, we can do the same, it's about when to buy and sell or if it's something that you know will go higher like silver, you just keep on adding!
Stack it while they attack it.

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I heard about that. That's crazy. He knows that Bitcoin is the future! :-)


Ya that's what so crazy man



Ya what JP Morgan did is unbelievable actually

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Wow, I saw that he talked down BTC, but I didn't know he forbade his employees from trading it. And I definitely didn't know there is evidence they traded XBTs.


The photo was tweeted by I am nomad who actually found the transaction.

I wouldn't give Dimon so much credit, but at least someone at Morgan doesn't have their head up their a$$


I am not giving credit to Dimon but he just manipulated the market as he has power which is kind of bad to people.


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Of course he did. He did it in the past. He made at least one big statement about bitcoin a year or two ago for sure to can buy then too.

He is for sure a hodler from the beginning of things, hehe.

I don't really know why market reacts to messages from kitties like Jamie. I know i know there are a lot of sheeps around us and with facebook and google new "technologies" in applications will be more people that will say "i have nothing to hide" or "haven't you seen, they said will not read your data, just store it for 6 months without knowing what's in it".
So, this people along with new ones in crypto will make the market volatile.

But sincerely i like it. We can buy more often than we think. With exception that we buy for a few $$$ and that kitties buy with hundreds of thousand profiting by innocent minds.

In the end, it is what it is. If we live that moments we should profit by them too.



Ya man I agree with you
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Great reveal, IronMan!

I knew "Mr. Dimon" had ulterior motives LOL!!!
I've watched "The Morgue" for years...


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They've done this for years in the commodity markets especially with silver and gold. They probably see the crypto market as ripe for the picking as they have enough funds to manipulate it quite easily. I expect we'll see more of the same shenanigans in the future with BTC and other coins.


Ya man manipulating market is sad actually : ( Thanks for sharing information though : )

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I hate JP Morgan for the nonsense market manipulation tactics they use big bank trying to run everything