JPMorgan CEO tolerates bitcoin

[moneystery]

we know that a few years ago, trump, saylor, and many people were not so fond of bitcoin and said that it was just a ponzi scheme or scam.. but now they are flocking to accept bitcoin and invest in it. and so is the CEO of JPMorgan, maybe now he doesn't really accept bitcoin, and is still skeptical about it, but anyway, now more people are interested in investing in bitcoin, and like it or not he needs to adapt to it so that the company he leads can remain relevant to the current market trend. maybe now he tolerates his clients to invest in bitcoin (etf), but maybe in the future JP Morgan itself will provide ETF services for its clients. it's all possible.

[arabspaceship123]

CEO's want to generate finances & profit for the companies they're controlling. They've seen credit card companies & other banks take profits from crypto so they're only doing what they should've accepted years ago. They're late to the crypto party.

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

[coolcoinz]

CEO's want to generate finances & profit for the companies they're controlling. They've seen credit card companies & other banks take profits from crypto so they're only doing what they should've accepted years ago. They're late to the crypto party.

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

Generate profit? How did Dimon generate profit by attacking bitcoin, saying in public that he'd fire any employee caught trading it

Later we found out he had a trading desk set up at JPMorgan that traded bitcoin. His own daughter owned bitcoin! It's all bullshit for the masses what these people are saying.

Poor Jamie was caught lying over and over to manipulate the market but when it no longer worked he finally gave his approval. Nobody cares.

[FortuneFollower]

CEO's want to generate finances & profit for the companies they're controlling. They've seen credit card companies & other banks take profits from crypto so they're only doing what they should've accepted years ago. They're late to the crypto party.

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

Eventually, everybody will catch up.

But only those not too ignorant will get the most of the creams in question

[MinoRaiola]

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

Most people have understood that they have no chance of ignoring it. Now people are trying to make a profit with bitcoin and get a piece of the action. They see how much money others are making, or can make with bitcoin, so they want to play with it. Bitcoin doesnt really need this in the long term. In the short term, it helps so that can be good advertising. In many years, people will no longer have a choice, they must know and understand bitcoin. Anything else will not be up to date.

[arabspaceship123]

Generate profit? How did Dimon generate profit by attacking bitcoin, saying in public that he'd fire any employee caught trading it

He's allowing customers to buy bitcoin from their bank accounts so he'll allow them to deposit funds after selling. It's going to make profit for his bank if his customers keep cash in his bank.

Later we found out he had a trading desk set up at JPMorgan that traded bitcoin. His own daughter owned bitcoin! It's all bullshit for the masses what these people are saying.

I don't know about his daughter but he's catching up with the modern times.

Poor Jamie was caught lying over and over to manipulate the market but when it no longer worked he finally gave his approval. Nobody cares.

Crypto doesn't care it's going to survive without his bank. Why's he CEO if he doesn't have good rep ?

Eventually, everybody will catch up.

They're doing it now.

[john_egbert]

Crypto doesn't care it's going to survive without his bank. Why's he CEO if he doesn't have good rep ?

Many big people initially said lots of bad stuff about BTC, and doing it even now.

The key is to start thinking outside the box and give BTC a chance (like many did)

[CryptSafe]

There is a saying that says, "If you can not beat them, you join them." I believe this was what happened; he could not discourage the current economic trend but was forced to join the trend, otherwise he and his company would be left behind. In order not to be taken unawares, he had to do the needful to remain in the mainstream because he might lose patronage from those clients who are more inclined to digital finance, and if that should happen, he and his organisation would go extinct, so he had to incorporate bitcoin before the unexpected begins to happen.

[Franctoshi]

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too. He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking. His "approval" of bitcoin etfs in the bank to me seems like because he knows the benefit of using bitcoin but just refuses to admit it. He is most likely not wanting to be left behind so he has no choice but to allow the bank to offer bitcoin so they do not lose clients. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

I doubt if he doesn't understand what Bitcoin is all about or its wonderful potential that Bitcoin offers, but they're fearful of Bitcoin possibility of eliminating them “the Banks” out of Business because of Bitcoin and cryptocurrency self custody capability and not really about Bitcoin increasing the cyber crime of a thing or helping in money laundering or drug trafficking, but forgot to look at it in such a way of leveraging the Technology or even going into offering a trading platform to enable people who wants to trade leverage trade efficiently by establishing its crypto exchange.

[hero_the_bossman]

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too. He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking. His "approval" of bitcoin etfs in the bank to me seems like because he knows the benefit of using bitcoin but just refuses to admit it. He is most likely not wanting to be left behind so he has no choice but to allow the bank to offer bitcoin so they do not lose clients. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

I doubt if he doesn't understand what Bitcoin is all about or its wonderful potential that Bitcoin offers, but they're fearful of Bitcoin possibility of eliminating them “the Banks” out of Business because of Bitcoin and cryptocurrency self custody capability and not really about Bitcoin increasing the cyber crime of a thing or helping in money laundering or drug trafficking, but forgot to look at it in such a way of leveraging the Technology or even going into offering a trading platform to enable people who wants to trade leverage trade efficiently by establishing its crypto exchange.

Banks will stay either way, BTC clearly won't kill fiat-based operations, not right away for sure - most of the people would still linger to the ordinary state of things, no matter what.

[Majestic-milf]

 Jamie Dimon should literally not be taken seriously when he makes all these statements because he'd say or do anything that would benefit him as a businessman so that's why even after he kicked against Bitcoin in the past, he's coming back to allow his customers to have it in their portfolio just proves the point.
Another thing this saying of his looks like he's doing his clients w favor when they can just be wise and instead of buying from the company, they can do so from another exchange.

[nemesis_incarnate]

Jamie Dimon should literally not be taken seriously when he makes all these statements because he'd say or do anything that would benefit him as a businessman so that's why even after he kicked against Bitcoin in the past, he's coming back to allow his customers to have it in their portfolio just proves the point.
Another thing this saying of his looks like he's doing his clients w favor when they can just be wise and instead of buying from the company, they can do so from another exchange.

They can.. Or they will do it the way he intends, without proper knowledge.

Especially those using the bank already.

[pooya87]

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

People should avoid using centralized entities to purchase bitcoin. They should buy it on their own and store it on their own to be in custody of their money without having someone else's hands in their pocket!

That's the principle behind Bitcoin after all...

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too.

Criticize is not the right word here. He has attacked bitcoin and has spread FUD about it.

He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking.

This part is actually the funniest thing he has said considering that he and his bank are involved in all those crimes using the US dollar

[Mr Reporter]

So basically, they just want to earn from their clients buying Bitcoin without actually holding any Bitcoin themselves.

Honestly, it might be better for clients to just buy directly from exchanges and learn how to secure their assets properly. Banks aren’t really that helpful when it comes to Bitcoin investing. All they do is act as a bridge for traceable transactions and once that’s done, they collect their fees and call it a day.  

This is just another ETF thing..

JPMorgan will offer clients access to Bitcoin exchange-traded funds (ETFs)

Jamie dimon is not for bitcoin is just in for business, since he have seen the massive growth of bitcoin and the massive adoption of bitcoin, he now decide to tap the glory of bitcoin  by allowing his clients to buying bitcoin from his bank, so that his business will grow well goodluck to him, but my own opinion I we suggest that everyone should buy bitcoin directly from exchange and store their bitcoin by themselves instead of buying bitcoin from unbelievers banks like the person of Jamie dimon who have called bitcoin a scam before.

I think I love your perspective on been self custody which provides more control and security over your digital assets, just you have mention I think Jamie Doimons in past use to criticise bitcoin and also JPMorgan's has chase is now exploring ways to offer bitcoin services to it clients.

[kryptqnick]

JPMorgan’s decision to let clients access Bitcoin through ETFs shows that even some of the biggest banks simply cannot ignore the demand for Bitcoin on the customers' side, especially on the investors' side. Even if the head is personally in a strong opposition to Bitcoin.

It's important to remember that it doesn’t mean the bank has a lot of faith in Bitcoin; it’s more about meeting client demand, staying competitive, and probably making a lot of money as a result. Nothing personal, just business.

[tread93]

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too. He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking. His "approval" of bitcoin etfs in the bank to me seems like because he knows the benefit of using bitcoin but just refuses to admit it. He is most likely not wanting to be left behind so he has no choice but to allow the bank to offer bitcoin so they do not lose clients. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

Jamie can't make up his mind he is bipolar on the subject of bitcoin lmao what a joker

[arabspaceship123]

We want crypto to be used. It's better for us if more ppl & companies promote crypto. Banks owners have decided they can't stop their customers getting interested in crypto so they'll try to make it easy for them.

[dumpsterhawk]

He is just a sad snob with an inflated sense of ego, who thinks that being rich makes you smart. He was very wrong about Bitcoin, and now he regrets it. He has two choices, continue his ill way without admitting that he's wrong and trash talk Bitcoin or admit that he is a loser that was outplayed by countless normal people. He chose the former. 

Jamie can't make up his mind he is bipolar on the subject of bitcoin lmao what a joker

He has made up his mind a long time ago. The situation here is his position with the bank. If they don't adopt it, other banks will get this business and they will lose out. He could risk his job and the health of the bank by not doing this. That said, I hope to witness a complete collapse of JPMorgan in my lifetime.

[Die_empty]

JPMorgan’s decision to let clients access Bitcoin through ETFs shows that even some of the biggest banks simply cannot ignore the demand for Bitcoin on the customers' side, especially on the investors' side. Even if the head is personally in a strong opposition to Bitcoin.

It's important to remember that it doesn’t mean the bank has a lot of faith in Bitcoin; it’s more about meeting client demand, staying competitive, and probably making a lot of money as a result. Nothing personal, just business.

It is in no way an endorsement by Jamie Dimon, the CEO of JPMorgan of cryptocurrencies.

"I don’t think you should smoke (invest in crypto), but I defend your right to smoke. I defend your right to buy Bitcoin,” he said.

It is about serving as a middleman or intermediary between exchanges and bank customers while collecting commission or transaction fees.

Any news or latest development that exposes people to Bitcoin is a good one. It will also encourage people to learn how to keep their coins in decentralized wallets.

[davis196]

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too. He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking. His "approval" of bitcoin etfs in the bank to me seems like because he knows the benefit of using bitcoin but just refuses to admit it. He is most likely not wanting to be left behind so he has no choice but to allow the bank to offer bitcoin so they do not lose clients. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

The real question is "Who would buy Bitcoin through JPMorgan?" Another good question would be "How much will it cost in terms of banking fees?" There are so many ways to buy Bitcoin, why would anyone choose to buy BTC via a big fiat bank? Maybe Dimon is talking about allowing fiat-to-BTC transactions, and not JPMorgan directly selling BTC to their customers. Comparing Bitcoin to smoking is silly. Using and HODLing BTC isn't bad for your health. It's actually good for your wealth. Maybe Dimon should've compared Bitcoin to gambling, even though BTC is the cryptocurrency with the highest level of trust.