Dimon's back at it: Bitcoin buyers are "stupid"

Dimon's back at it: Bitcoin buyers are

The true believers are all over the internet and I'm pretty sure they're fitted with radio-collars that alert them whenever someone says something bad about Bitcoin.

"The only value of bitcoin is what the other guy will pay for it", Dimon said, noting that the digital currency's rapid rise may in part be due to it being talked up by people looking to exit their positions. You all can do whatever you want and I don't care.

"Who cares about bitcoin?" he was quoted as saying.

However, what was more interesting is that when asked whether the bank would consider looking at opportunities in digital currencies, Lake responded that JPMorgan is "open-minded" to potential use in the future for cryptocurrencies that are regulated.

"Bitcoin just shows you how much demand for money laundering there is in the world", Fink, the head of the largest asset management firm in the world, said at an Institute of International Finance meeting.

"This is the last time I'm going to answer any questions about bitcoin, because I really don't care", Dimon said, gesturing with his good arm. Gold bless the blockchain.

One former J.P. Morgan trader , Daniel Masters, has offered a decidedly different stance on digital currencies than Dimon. If it can be done digitally with the blockchain, so be it. "I don't personally understand the value of something that has no actual value". It can "trade at $100,000", but it will eventually crash to zero. Tulip bulbs traded for $75,000 or something like that.

Her comments come about a month after Dimon said that he would fire anyone who traded Bitcoin because, according to him, "it's against our rules and they are stupid".



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