Markets

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.


  • A second royal engagement for Harry and Meghan

    A second royal engagement for Harry and Meghan

    Markle, a Los Angeles native, also intends to become a United Kingdom citizen, a process which will take several years. Last year, she also ended her partnership with Canadian department store Reitman's for a fashion line.
    Residents rescued as mud inundates California burn areas

    Residents rescued as mud inundates California burn areas

    She said "multiple" residents had been brought to safety and dozens more were calling for help in Montecito and Carpinteria. The blazes leveled entire neighborhoods, killing 44 people and destroying more than 8,900 homes and other buildings.
    Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Hugo Bara, CEO of Oculus, didn't have anything more to say about the release date, but he said we could expect more details soon. The Oculus Go, which is a stripped-down version of the company's high-end Oculus Rift , was announced back in October 2017.
  • 'The Shape of Water' by Guillermo del Toro Gets 12 Bafta Nominations

    'The Shape of Water' by Guillermo del Toro Gets 12 Bafta Nominations

    Nominees will have until February 18, 2018, to work on their looks of surprise and acceptance speeches. The BAFTA nominations have been announced, with a few notable omissions.
    Apple is Bringing More Parental Controls To The iPhone

    Apple is Bringing More Parental Controls To The iPhone

    The groups want Apple to create new ways for parents to filter what their children can see and the amount of content they consume. The company also noted that it first introduced parental controls in software in 2008 and has expanded it in the interim.
    Gundogan warns Bristol of Citizens' League Cup desire

    Gundogan warns Bristol of Citizens' League Cup desire

    In midfield, David Silva will not be available as he is once again given leave of absence to return to his family in Spain. If we are able to play as we did in the last five, six months then our chances, they just increase.
  • Morrison - Wholesale drives a good Christmas

    Morrison - Wholesale drives a good Christmas

    But growth at Aldi [ALDEI.UL] and Lidl continued to outpace the four, with both discounters seeing sales rise by 16.8 percent. The partnership will see the supermarket supply Safeway and branded products to 1,300 convenience shops and 350 newsagents.
    Google Doodle honours Nobel Prize victor  Har Gobind Khorana

    Google Doodle honours Nobel Prize victor Har Gobind Khorana

    Khorana won the "Nobel Prize in Physiology or Medicine" in 1968 along with colleagues Marshall W. One sequence of three nucleotides in DNA corresponds to a certain amino acid within a protein.
    Why Twitter will never deactivate Donald Trump's account

    Why Twitter will never deactivate Donald Trump's account

    It is debatable whether Trump did in fact violate user policy on Twitter , but it has raised some important questions. A nonprofit group called Color of Change has announced a new effort to get Trump banned from Twitter .
  • Ibuprofen linked to male infertility

    Ibuprofen linked to male infertility

    It was a randomized control trial, with one group of participants receiving ibuprofen and the others receiving placebo. The drop in testosterone can cause testicles to shrink, as well as making it more hard to get someone pregnant.
    OPEC Doesn't Want Brent Over $60 a Barrel, Says Iran's Oil Minister

    OPEC Doesn't Want Brent Over $60 a Barrel, Says Iran's Oil Minister

    Meanwhile, U.S. explorers cut the number of rigs searching for oil last week by the biggest margin in two months. OPEC's cuts are helping to reduce global inventories, even as production continues to rise in the United States.
    Nokia 6 (2018) with 4GB RAM, better processor launched: Price and specification

    Nokia 6 (2018) with 4GB RAM, better processor launched: Price and specification

    This year, Nokia is offering the Nokia 6 in two stylish versions: black with copper highlights and white with rose gold accents. The Nokia 6 (2nd Gen) has been unveiled and the device comes with a number of improvements while still having the same price.