On Tuesday JPMorgan CEO Jamie Dimon went on CNBC and called Bitcoin (BTC) "a fraud." He says it is only a novelty and will crash while associating BTC with North Korea and illicit purposes. His view is that it will eventually be closed and never gaining currency status. Do you think he is telling the truth or only scared for his own business?
Today the market started to retrace and move back up after reaching $3,000. Well, I heard a rumor that JP Morgan was a big purchaser today so I started looking into it. This is what I found...
Nordnet AB in Sweden made BTC trades for JP Morgan Securities Ltd. JPMorgan Chase & Co is the parent firm of this invest arm out of the UK.
"One of the Firm’s (JPMorgan Chase & Co) principal operating subsidiaries in the United Kingdom (“U.K.”) is J.P. Morgan Securities plc (formerly J.P. Morgan Securities Ltd.), a wholly-owned subsidiary of JPMorgan Chase Bank, N.A."
The source of the trade, the image below, shows JPMorgan Securities Ltd making a profit of 9,186. Now, I am not sure what the number really represents. Is this in thousands totaling 9.1 million, in millions totaling 9.1 billion, or 9,186 BTC totaling $33 million? If someone knows I will update this article.
Regardless of the total, this should be an example of not trusting central banks and mainstream media. They say one thing and do another. Why do they keep telling you BTC is a "bubble" and "worthless" yet they keep buying in and profiting off of it while you don't?
Do your own research and stop listing to those who do not have your best interest at heart... BTC is the future and the banking elite, and those in positions of power around the world, are worried their power could vanish. BTC gives you freedom, freedom to control the product of your labor. This takes away their ability to control you. Live free and take control of your life, use BTC and other alt currencies. No one has a right to the product of your labor but you.
My name is Jeffrey Hann, @jeffreyahann, and I'm an anarchist/voluntarist, Army veteran, business analyst, graphics and website designer, and content creator. I have a passion for truth and being logical, which eventually lead me to anarchism. I strive to live my life through voluntary actions and valuing rights. I co-own Journalistic Revolution (Facebook and YouTube) and JRev Radio (Facebook). We strive to be a factual and honest open sourced news organization. Also I co-own Jrev Media, a brand communication company that works within the cannabis industry with the goal on normalizing cannabis. I can be found on Facebook|Twitter|Instagram
Upvoted. If you want to know the REAL reason Jamie Dimon of JP Morgan called Bitcoin a "Fraud" (not what you think) check out this 30-second read: https://steemit.com/bitcoin/@thoughtchain/viral-why-jamie-dimon-called-bitcoin-a-fraud-not-what-you-already-heard
Dimon has a big hole where others have brain to understand deflational uncontrolled money. This new money will take him down!
Interesting Article!
I just wrote a post on the same topic:
Jamie Dimon is a liar, a fraud and in his own words: "stupid" - Did he intentionally manipulate Bitcoin market?
Yes he did
Here is my follow-up article on this topic... https://steemit.com/news/@jeffreyahann/conspiracy-theory-government-and-central-banking-lies-about-bitcoin-ceo-of-jpmorgan-and-director-of-the-federal-reserve-jamie
boom.... hit the nail on the head my friend... love it :D
Yes - with this tricks he want either rescue his Fiat Money or when not he has a strong Bitcoin. BUT this trick will not Help at all.
They have the knowledge of hustling BTC price and uses the media for their greedy purposes, we just have to ride the wave.
There's an unlimited supply of crypto-currencies.
False... each coin has a limit, so the entire sum has a limit. Any unlimited supply would be worthless. This post is about the hypocrisy and lies Dimon is spreading.
You understand and the others understand it later...
Even if each coin has a limit (some only have an inflationary one) there is still a virtually unlimited supply of new crypto-currencies. you either can't think straight, any crypto currency is part of ''cyrpto currencies'' so regardless of your point, the answer is true. I think I should also insult you, idiot.
LOL... By definition, cryptos have a limited supply so it literally cannot be unlimited. There is always a limit. Yes, more coins can be added etc but there is still a limit. But continue to call me an idiot. Usually, those who have to resort to name calling already lost the debate. Good job though.
read again. Find the word ''new'' think again. die. be reborn.