Many Pay Upwards of $25,000 For Bitcoin These Days. Jamie Dimon Thinks It’s Worthless
June 6, 2023
In our June 1 post, we created a hypothetical employee who just started their new job at the SEC and was tasked with reviewing a couple of recent alerts around crypto “investing.” After researching Warren Buffett’s and Aswath Damodaran’s positions on crypto, the hypothetical employee’s research efforts continue…
Today is the day when you decide to look at somebody in the financial sector. You look up the largest bank in the U.S., and it’s JPMorgan Chase, so you decide to use Jamie Dimon, its CEO.
JPMorgan Chase’s background story is quite interesting. J.P. Morgan, of course, is a central figure in the history of American finance, someone who is widely credited with stabilizing the U.S. economy in 1907, which ultimately led to the creation of the Fed in 1913. Jamie Dimon's story is interesting, too. He came to JPMorgan Chase with its Bank One acquisition in 2004, where he was the CEO, and shortly after, assumed the CEO role of the combined company. He has been involved with three large “rescue” operations, Bear Stearns and Washington Mutual in 2008, and more recently, First Republic.
“What are his views on Bitcoin?” you wonder. You remember this panel discussion from the 2017 Annual Meeting of the Institute of International Finance Meeting.
That was October 2017 and Bitcoin’s price was hovering around $5,500 at the time.