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    January 10, 2018

    Jamie Dimon ‘regrets’ calling Bitcoin a fraud, says ‘the blockchain is real’

    Jamie Dimon

    JPMorgan Chase CEO Jamie Dimon has clarified that he ‘regrets’ calling Bitcoin a fraud, and has indicated his optimism toward the blockchain’s potential.

    Jamie Dimon has achieved notability for being one of Bitcoin’s most avid critics in the recent past, though today the JPMorgan Chase CEO has sung a different tune.

    In a new interview, Dimon has commented that he ‘regrets’ calling Bitcoin a ‘fraud’, and has indicated that while neither concept truly holds his interest, he remains optimistic towards the blockchain’s potential.

    Read: Mark Zuckerberg highlights cryptocurrency in his ‘annual challenge’ address

    In an interview with Fox, Dimon offered that he may see some viability in state-backed cryptocurrencies – quipping that “You can have crypto yen and dollars and stuff like that. ICO’s you have to look at individually”, before adding that “The blockchain is real.”

    Dimon has previously labeled Bitcoin a ‘fraud’ and has threatened to fire any JPMorgan employee who traded Bitcoin on company accounts for being ‘stupid’.

    Specifically, Dimon stated in 2015 that he saw little potential for a decentralized economy, offering that “It’s just not gonna happen, you’re wasting your time… This is my personal opinion… There will be no real non-controlled currency in the world. There’s no government that’s gonna put up with it for long.”

    Dimon’s new outlook comes on the back of a report by The Wall Street Journal which cited that ‘J.P. Morgan is considering whether to provide its clients access to CME’s new Bitcoin product through its futures-brokerage unit’ – giving an indication that the firm may be chartering a new position on cryptocurrencies.

    Read: Peter Thiel’s Founders Fund has reportedly made millions through cryptocurrency investment

    What are your thoughts? Could Dimon have a point? Be sure to let us know your opinion in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

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