Read more on this subject: Bitcoin
News Story Source: Zero Hedge
Well this is a little awkward…
Four years since Jamie Dimon famously proclaimed that "bitcoin is a fraud", "will eventually blow up", and that "any trader trading bitcoin would be fired for being stupid", JPMorgan's co-President Daniel Pinto has reportedly admitted that bitcoin and its crypto brethren are a real thing:
"If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved,"
CNBC's Hugh Son reports that last month, during a town hall meeting held for thousands of JPMorgan Chase traders and sales personnel around the world, global markets head Troy Rohrbaugh acknowledged a question that is increasingly being asked by the bank's own employees: When will they get involved in bitcoin?
In a response that reportedly took up a chunk of the hour-long call, Pinto signaled he was open-minded about bitcoin: "The demand isn't there yet, but I'
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