Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO Jamie Dimon’s panicked outburst with regard the ‚fraud‘ that Bitcoin’s ‚tulip-like‘ bubble is. To paraphrase:
„It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get somebody killed. I’ll fire anyone who touches it.“
Anecdotally, the post-Dimon collapse in crypto prices seems to confirm his view (though of course this is much more due to China concerns than a vested interest fearmonger), which makes us wonder… why is JPMorgan buying Bitcoin ETFs on European exchanges?
Bitcoin Price Bounces Back $400 In Minutes As China Gives Huobi, Okcoin Extra Month
The latest news from China has ‘sweetened’ reports all exchange should close by September 30, giving Huobi and Okcoin an extra month of life.
And the Real Reason China is Banning BTC Exchanges is…
Obligatory Disclaimer: To modify a quote from Tim Ferris, “I am NOT a financial advisor, and none of this advice should be taken without speaking to a qualified professional first. Also, my results [are most likely] due to pure luck and zero skill.” But…this is working for me.