JP Morgan Chase CEO Says His Company Will Support BTC

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Oct 13, 2021

BTC will hit $100K in 2021-2022[]

The CEO of JP Morgan Chase, Jamie Dimon, said that he still does not support BTC, but his company will allow users to transact using the flagship crypto. He also took to his main Twitter account to certify that his stance on bitcoin has not changed. However, he added that his company would offer as-clean-as-possible access to the premier cryptocurrency.

Dimon Doesn’t Value BTC But Loves His Pro-BTC Clients

Dimon said he knows how to separate business from sentiment and will allow his company to assist its clients in transparent BTC trades. He also said that even though he sees BTC as worthless, customers have a right to choose what they want to engage in. Therefore, he will fully support his company’s new project to assist in BTC purchases and sales.

He went ahead to say that Chase cannot afford to custody BTC but will allow BTC purchases through his bank. His ‘crypto acceptance’ comes as a push to ensure that his clientele gets full access to the services of their desire. However, he cannot advise anyone to walk down that road.

The crypto world quickly reacted to Dimon’s likely side-switching due to his massive influence against them. Many people seemed surprised by his new stand to engage passively in BTC trades. Other people also said that pessimists took their stand against cryptos since they do not understand how they function. BTC is currently outperforming almost every other coin having risen to $57K with other cryptos experiencing a bloodbath.

Dimon’s Crypto Involvements

The JPMorgan Chase CEO is known by crypto enthusiasts and others for his strong opinions against joining the ‘Bitcoin Craze.’ Even though he has held to his anti-crypto campaign, Dimon seems to believe in an un-opinionated service offering.

In February 2019, Dimon said that JPMorgan would roll out the JPM digital coin and create a new unit for blockchain projects later. As a result, access to crypto funds through JP Morgan became available sometime in 2020. Recently he told Axios CEO Jim VandeHei that cryptos would soon receive their share of regulations in America. He also added that even though he believes BTC will continue to exist, many countries will deem it illegal.

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