…A few weeks ago, JPMorgan chief Jamie Dimon referred to bitcoin as a mere “fraud.”
In September Dimon said, “My daughter bought bitcoin, it went up, now she thinks she is a genius” (and now the dumb money is flooding in, as the cryptocurrency hit a high for the day of $5,855 on Friday).
On Thursday he changed his tune during the bank’s conference call, when he said, “I wouldn’t put this high on the category of important things in the world. But I’m not going to talk about bitcoin anymore,” later adding, “I was reminded that we move trillions of dollars a day digitally. It’s not cash.”
Then on Friday, he reneged and said, “If you’re stupid enough to buy it, you’ll pay the price for it one day.”…