The multinational banking and financial services giant announced plans to launch trading of Bitcoin futures on the Chicago Mercantile Exchange (CME), but the head of the institution has been no less bullish on his stance on Bitcoin.
“You can’t have a business where people can invent currencies out of thin air and think that people who are buying it are really smart. It’s worse than Tulip Bulbs; it won’t end well. It’ll eventually blow up; it’s a fraud.”
The CEO of one of the biggest financial institutions in the world is telling us that cryptocurrencies are a fraud – yet his company is preparing to get in on the action.
There seems to be a major discrepancy between the CEO’s own thought’s on the matter and the bank’s business plans.
With Bitcoin hit a new high well above $8,000 this week, the sentiment towards the virtual currency and it’s altcoin successors is steadily changing.
If and when CME gets the go-ahead to open trades on Bitcoin futures in the coming weeks, it wouldn’t be surprising to see the likes of Dimon and other naysayers change their tune towards cryptocurrencies…