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BITCOIN POLITICS......Jamie Dimon Breaks One-Day Silence to Call Bitcoin Investors Stupid

AFTER INVITING EXPERTS  to discuss Bitcoin with his employees, Jamie Dimon is still finding it difficult to ignore Bitcoin. A day after stating that he would not talk about Bitcoin, he breaks his silence to emphasize that stupid bitcoin investors will pay the price.

After his statements that Bitcoin is a fraud and that governments would crush it, Jamie Dimon has been repeatedly confronted with Bitcoin's zooming price. He nonetheless stuck to his stance that while the price might go up, it would eventually collapse. Jamie is very comfortable with dollars, but not with a decentralized, non-fiat currency like Bitcoin.

Jamie did not stop by just attacking Bitcoin, but went on to attack Bitcoin investors as well. He had previously stated that he would fire any JP Morgan employee who traded in Bitcoin, not just because it was against the rules of JP Morgan, but because they would be stupid to trade the digital currency. He again reiterated that those who have invested in Bitcoin would regret their decision.

The central theme of Jamie Dimon’s renewed attack on Bitcoin is that it is a bubble, where the underlying asset has no value. So although certain people will profit because they manage to sell their Bitcoin to late investors (the 'greater' fools), the end result will definitely be a crash. The oft-repeated comparison with the Tulip Mania was made to support his point.

I don't personally understand the value of something which has no actual value.... A lot of the buyers out there are jazzing up everyday, so that maybe you will buy it too. And take them out.

"It could trade for $100,000 before it trades for zero. Tulip bulbs traded for $75,000 or something like that..."  He says "If you are stupid enough to buy it, you will pay the price for it one day."

FIRE - Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, the Lord is near you to help you!

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