Bitcoin latest: JPMorgan CEO Jamie Dimon 'regrets' calling cryptocurrency a fraud

Marcus Newton
January 10, 2018

JPMorgan Chase CEO Jamie Dimon now reportedly regrets calling bitcoin a "fraud", though he is still not a fan of the cryptocurrency. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big.

Jamie Dimon is having second thoughts about wading in to the bitcoin controversy. "ICO's you have to look at individually".

"I regret making" those comments, Dimon said in an interview with the Fox Business network.

Dimon in September threatened to fire Chase employees that invested the bank's money in bitcoin or other cryptocurrencies.

"You're going to see companies doing things in the short run like increasing wages and a bunch of stuff like that, or one-time bonuses", Dimon told FOX Business' Maria Bartiromo on "Mornings with Maria".

Despite taking back last year's inflammatory statements, Dimon still has some reservations about the cryptocurrency.

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"I think one of the mistakes that people make is [focusing on] what's the impact tomorrow", Dimon said. In an interview past year, the banking executive said that investors "stupid enough to buy it" will "pay the price for it" eventually.

Dimon said cutting the corporate rate will create jobs, boost incomes and create competition in America.

It is noteworthy how the outspoken CEO repeated his positive stance on the technology backing bitcoin, the so-called blockchain.

The recent fall in price has led some analysts to speculate that bitcoin may have been experiencing a bubble in late 2017, however others have dismissed such conclusions.

The high-profile chief executive added that he is "not interested that much in the subject at all".

The price of bitcoin declined 1.4 percent to $14,760 Tuesday, according to data from industry website CoinDesk.

Other reports by MaliBehiribAe

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