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Bitcoin Naysayer Jamie Dimon of JP Morgan Chase "Regrets" His Past Comments

Bitcoin Naysayer Jamie Dimon of JP Morgan Chase

JPMorgan Chase CEO Jamie Dimon now reportedly regrets calling bitcoin a "fraud", though he is still not a fan of the cryptocurrency.

Jamie Dimon is having second thoughts about wading in to the bitcoin controversy. The initial coin offerings ICOs need to be reviewed "individually", he said. Dimon labelled Bitcoin a "fraud", threatened to fire any JPMorgan employees found trading it, and predicted that governments were going to "crush" Bitcoin.

That was just one of many critical comments about bitcoin, "which I regret making", Dimon said during an interview with Fox Business on Tuesday.

"If you're stupid enough to buy it, you'll pay the price for it one day", he said in response to a moderator question at an Institute of International Finance conference in October.

Dimon remained bullish on the prospects for continued growth, despite some Federal Reserve officials having gone on the record to caution that tax cuts and other measures could overheat the U.S. economy, leading to higher borrowing costs that might stymie growth. "You can have crypto yen and dollars and stuff like that".




"We're going to consider a whole bunch of different things", he said, "but also around helping accelerate growth in America like small businesses, like branches, like affordable housing, things like that which I think have a double effect".

He added that he is "not interested in the subject at all", despite the fact he has consistently made public comments about bitcoin. Dimon told Fox News he has changed his opinion on bitcoin.

The digital currency's price soared 1,300% previous year.

"It's certainly a meaningful price adjustment and many speculators will have profited from the recent rise, but at these times most of the earlier investors continue to hold".

However, Bitcoin has become increasingly hard to ignore.