JPMorgan CEO Jamie Dimon, who called bitcoin a fraud in 2017 said he now regrets making that statement.
Bitcoin was under $4,000 when Dimon made the comment back in September of 2017, the digital asset is now worth well over 3 times that amount today sitting currently over $14,450.00 on the index.
"The blockchain is real ... you can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people." - Dimon speaking to Fox Business.
Dimon basically stated what he should have stated in the first place. Everyone has a right to an opinion, but outright calling anything a fraud without any basis of fact isn't always the most productive course of action.
We'll leave it at. Anyone who admits a mistake and owns up to it in the manner Dimon has deserves a certain level of respect and as of today, he's earned it.
Whereas many still disagree with his opinion regarding bitcoin, respecting ones opinion is required if one wishes an opinion to be respected in return.
Regarding the comment "what the governments are going to feel about bitcoin when it gets really big". I'll offer this opinion.
There's nothing they can do about it short of turning off the internet and eliminating all electricity on earth.
There was a time long ago when governments worldwide could have done something to stop it, back when the network was weak and lacked value. The governments could have easily and collectively nipped it in the bud.
Despite that not being in the best interest of the planet in the first pace, more importantly, that opportunity ... is long gone.
[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image courtesy JPMorgan