Crypto Enterprise Internet News

JP Morgan CEO apparently doesn’t “give a shit” about bitcoin

BitcoinGrowthFund, zebpay, Bitcoin, crypto currency

In what is a rather strong statement to make on the crypto-currency’s 10th birthday, JP Morgan CEO Jamie Dimon said that he doesn’t “really give a shit” about bitcoin. This is not the first time that he has lashed out against the virtual currency.

Dimon has been pretty clear about his feelings for Bitcoin, on an off calling it a scam, and referring to it as a “real-technology”. However, there had been a period of quiet where he held off from making any disparaging remarks about Bitcoin after tendering an apology for publicly calling it a fraud. However, it seems that he is at it again.

What is interesting, is the fact that JP Morgan’s commitment to investing into related technology continues unabated despite its CEO’s clear stand. Only last week, the company announced that Quorum. Based on Ethereum, the platform will let the company offer digital tokens backed by gold bars and diamonds.

Dimon is not the only major financial wizard who has spoken out against assorted cryptocurrencies. Warren Buffet, is another whiz who has been quite outspoken about his disregard for bitcoin. Traditional banks and governments are also wary of the growing potential of bitcoin and their responses have ranged from imposing sanctions to banning their use outright.

However, the blockchain technology has massive potential that just can not be disregarded. Case in point, JP Morgan’s Quorum platform. The technology is also finding usage in sectors such as healthcare, IT, and information exchange. Bitcoin, while remaining one of the most widely known (and possibly valuable at present) use cases of blockchain, on the other hand has been ranging up and down in value and its future, remains uncertain at present. However, it has stayed around for over a decade now.

Interestingly, Dimon’s remarks were made on the 10-year anniversary of Bitcoin. It was only a decade ago that Satoshi Nakamoto published the bitcoin whitepaper, setting in motion a technology that has the potential to change the way peer-to-peer transactions and exchange take place in different industries across the globe.

A bibliophile and a business enthusiast.

mudit.m@thetechportal.in


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *