(Repost got removed by automod earlier)
While appearing in an event organised by International Institute of finance In 2017, on being asked about Bitcoin,Jamie Dimon,said
"This is the last time I'm ever gonna answer,"I really don't care,when I made that stupid statement, I call it a fraud. My daughter sent me an email saying,"Dad, I own two Bitcoins" My formerly smart daughter"
At the time of this statement,the price of BTC was $4800. Let's say, if she bought 2 BTC @$4800/BTC
She is a daughter of a billionaire,It's not that her life would stop if she would have to hold her investment.
Just a hypothesis :
-If she is still holding her BTC investment would be priced @ $114k,that is insane amount of returns on $10k in 4 years.
-If she sold at average price of $50k during 2021 Bull Run, She would have made $90k in 4 yrs, still very promising percentage of returns.
Moral: Well,His daughter proved that she is more smarter than her dad,when it comes to making money.
He also said :
I think Crypto currencies and digital currencies are also fine,you know JP Morgan moves six trillion of dollars around the world everyday we don't do it in cash,its done digitally if we done digitally with the Blockchain so be it but it still be a Dollar Crypto currency., "Bitcoin,who cares about Bitcoin.I mean you know the world's economy is so big JP Morgan moves $6 trillion everyday alone and Bitcoin in total is $50bn all these two currencies are $50 bn dollars maybe a billion dollar trades a day.
Moral: Now, BTC's market cap alone is over $1 trillion,BTC is coming for you guys..
When Jamie said,"I don't know anything about Bitcoin, he meant it",proof
if there is use case for bitcoin if you live in Venezuela,North Korea,if you are a criminal,then bitcoin is a great great product. I mean that is better than cash or deposits in that country.
Only if he knew,his company would be selling BTC products he would have never said this :
I could care less about Bitcoin,who trades it, how it trades,if you are stupid enough to buy you will pay the price for it one day.I have also told people that it can trade at $100k before it goes to Zero.You know Two Tulip bulbs were traded for $75k.
Moral : Either JP Morgan is bad at advising their clients, or they don't really care about their clients money.
Citadel is not the only one, who didn't like the idea retail making money,Jamie was earlier than Citadel
The only value of Bitcoin's with the other guy will pay for it and I think honestly,is a good chance to Bitcoin a lot of the buyers out there jazzing up everyday so that maybe you will buy it too and take them out and I quite mean that by the way you know these people are very good at manipulating the press these days getting news down so everyday you know you have the CNBC non stop Bitcoin.
Moral : Poor guys,cant get the payment for order flow data in Crypto.
The other thing is Govts and this is not a technological statement,Govts are going to crush it one day,govts likes to know where the money is,who has it and what you are doing with it and in case you haven't noticed govt's like to control their currency like to control their own economy so China has already put curbs on it,you know they said Japan accept the Bitcoin no they didn't.
Moral : Don't get scared when a billionaire businessman makes this kind of statement.
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