Coinbase CEO Brian Armstrong lately prolonged respect to JPMorgan CEO Jamie Dimon regardless of their differing views on Bitcoin (BTC). Armstrong’s feedback got here in response to a thread by Cathie Wood of Ark Invest, the place she critiqued Dimon’s derogatory remarks on blockchain expertise and Bitcoin.
Brian Armstrong exhibits respect for Jamie Dimon
In response to Wood’s thread, Armstrong wrote, “Even if we don’t fully agree on Bitcoin, I have a lot of respect for Jamie as a CEO and have learned a lot from him. Actually, everyone I’ve met from JPM has been top-notch.” This surprising reward for Dimon by the Coinbase CEO confirmed a moderately considerate method within the typically polarized discussions within the crypto area.
This comes after Dimon remained steadfast in his criticism of Bitcoin throughout a public look in Davos. He reiterated his private recommendation to keep away from BTC, attributing its use circumstances to “AML, fraud, sex trafficking, and tax avoidance.”
Furthermore, Dimon’s skepticism persevered as he advocated for regulatory measures, and expressed assist for shutting down BTC throughout Congressional testimony. In addition, he additionally dismissed Bitcoin’s utility and labeled it as a mere “pet rock.”
Moreover, his anti-Bitcoin stance remained unchanged when requested concerning the current inexperienced mild to 11 Spot Bitcoin ETFs. Dimon famous that he doesn’t care concerning the current approval of Bitcoin ETFs though it was a historic second for the crypto trade. Whilst, he additionally said that this is able to be his final time talking about BTC in public.
Also Read: Bitcoin ETF: Fierce Competition Between BlackRock And Fidelity As Volume Jumps
Cathie Wood takes a jibe at JPM CEO by highlighting Bitcoin’s achivements
Cathie Wood, however, seized the chance to problem Dimon’s current characterization of BTC as a “pet rock.” In a current put up on X, she highlighted the spectacular statistics laid out by Ark Invest’s group that assist Bitcoin community’s power. The knowledge underscored the community’s record-breaking hash charge of 500 exahashes per second
In addition, Wood’s group offered the next factors to emphasise the size of this achievement:
- The Bitcoin community calculates 5 billion computations per second for each star in our galaxy.
- It would take roughly 2000 years for the worldwide inhabitants, every performing one hash/second, to match the Bitcoin community’s hash charge.
- The Bitcoin community performs about 67 occasions extra hashes per second than there are grains of sand on Earth.
- In phrases of uncooked operations/second, Bitcoin is roughly 500 occasions extra highly effective than the world’s most superior supercomputer.
Furthermore, Wood additionally make clear Dimon’s earlier fame as a tech-savvy CEO in 2004 along with his present stance, playfully introducing him to Armstrong, which prompted the latter to answer the thread. Her pointed remarks aimed to underscore the altering attitudes in direction of expertise, notably throughout the monetary sector.
Also Read: Ark Invest Purges ProShares BITO & AMD To Buy 1 Bln ARKB Spot Bitcoin ETF
The offered content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
