Dimon as soon as once more attacked the highest cryptocurrency, calling it “worthless” throughout a digital summit Monday.
“Our clients are adults, they disagree. That’s what makes markets. If they want access to buy and sell bitcoin…we can give them legitimate, clean-as-possible access,” he mentioned.
Still, Dimon’s sarcastic remarks about bitcoin come as the worth of the cryptocurrency has surged in latest weeks to about $57,000. Bitcoin has practically doubled this 12 months and is now solely about 12% under the all-time excessive of slightly below $65,000 earlier this 12 months.
Dimon has been a bitcoin bear for the previous few years — regardless of that it has soared in worth together with different cryptocurrencies.
Dimon additionally predicted that “regulators are going to regulate the hell out of it.”
Attacking bitcoin for years however the crypto retains climbing
So time will inform if Dimon winds up being proper to repeatedly query bitcoin’s worth. But his continued assault on the cryptocurrency appears to be falling on deaf ears with traders.
“Jamie Dimon calling Bitcoin ‘worthless’ is nothing new and has been shrugged off by the market,” mentioned Nicholas Cawley, analyst at DailyFX, in a report Tuesday.
Cawley added that since Dimon referred to bitcoin as being worse than the Dutch tulip mania bubble of the 1600s 4 years in the past, bitcoin has surged from about $4,500 to its present worth approaching $60,000.
JPMorgan Chase will report earnings for the third quarter Wednesday morning. Investors might be tuning in to see if Dimon has any extra selection feedback about bitcoin throughout both the media or analyst convention calls.