If Jamie Dimon Hates It So Much, Why Is JPMorgan Buying Bitcoin In Europe?

Source: Zero Hedge

by Tyler Durden

September 16, 2017 3:26 PM

Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO Jamie Dimon’s panicked outburst with regard the ‘fraud’ that Bitcoin’s ‘tulip-like’ bubble is. To paraphrase:

“It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get somebody killed. I’ll fire anyone who touches it.”

Anecdotally, the post-Dimon collapse in crypto prices seems to confirm his view (though of course this is much more due to China concerns than a vested interest fearmonger), which makes us wonder… why is JPMorgan buying Bitcoin ETFs on European exchanges?

Nasdaq Stockholm has an actively traded Bitcoin ETN…

‘Bitcoin Tracker One – SEK’ is an open-end Exchange Traded Note incorporated in Sweden. The ETN is denominated in SEK and provides investors with access to the returns of the underlying asset, US Dollar per bitcoin, less investor fees. The average USD exchange rate of bitcoin from the exchanges:- Bitfinex, Bitstamp and GDAX provides the underlying reference price which is converted into SEK.

Please go to Zero Hedge to read this article on Dimon.

Bitcoin is a Fraud – says Jamie Dimon

 

Rigging the market for JPMorgan:

Jamie Dimon BUSTED Buying Bitcoin! (Bix Weir)

 

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2 comments

  • Of course it is a fraud why else would the banksters be backing it ? U.S. Federal Reserve Publishes Paper on Bitcoin’s Blockchain Technology. http://www.abeldanger.org/if-jamie-dimon-hates-it-so-much-why-is-jpmorgan-buying-bitcoin-in-europe/ By using this scam they will no doubt be demanding that you can only buy from those they say and keep track of every cent you spend , like a real 1984 .

  • Jamie Dimon says things for effect, not for whether or not they are true. He may be right in that all things are a kind of fraud involving creation of non-existent things of the mind only like words that are not the true thing so perhaps he is telling the truth in some way. Lots of big banks are bad-mouthing bitcoin but as indicated in the article are involved in it the profiteering as it grows, rises and falls.

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