Jamie Dimon, the chief govt officer of JPMorgan Chase, was just lately criticized when he stated he would “close down” Bitcoin (BTC) if he had been operating the federal government, whereas testifying throughout a latest Wall Street oversight listening to by the US Senate Banking, Housing, and Urban Affairs committee on Capitol Hill.
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Jamie Dimon’s Anti-Bitcoin Stance
The JP Morgan CEO has lengthy been opposing the highest cryptocurrency. In the previous, he compared Bitcoin (BTC) with phrases like ‘Ponzi scheme’ and ‘hyped-up fraud’. Dimon continued his aggressive stance in opposition to BTC in his newest assertion, going so far as demanding a authorities shutdown of the crypto business. However, there’s extra to it than meets the attention inside JP Morgan, not less than round blockchain expertise if not for investing in crypto property.
Interestingly, the CEO’s feedback got here at a time when monetary giants of the likes of Blackrock and Fidelity are vying for the approval of the primary ever spot Bitcoin ETF from the U.S. Securities and Exchange Commission (SEC).
JP Morgan Crypto Unit’s Staff Multiplies
According to reviews, Onyx, the blockchain unit of JP Morgan, at present has round 300 staff in comparison with a headcount of simply 100 three years in the past. The reviews said Onyx is dealing with transactions value round $1 billion per day by way of blockchain.
Financial providers firm Fidelity, on the opposite facet, has been vocal in regards to the potential advantages of integrating crypto and blockchain in its merchandise. Earlier, CoinGape reported a Fidelity senior govt’s feedback on the upside potential of holding some Bitcoin. In the house of below two months, the Bitcoin price (BTC) grew over 60%, owing to varied elements together with the anticipation of the spot Bitcoin ETF approval anytime in 2024.
Also Read: Bitcoin ETF: SEC Chair’s New Take Leaves More Questions Than Answers
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