Remember "Baby Steps" from Groundhog Day? Don't think of the whole thing at once...take little steps, one at a time...that eventually...slowly...get you to...the ultimate goal.
That's what Jamie Dimon is doing, CEO of JPMorgan. Good for you Jamie! Good boy! Big boy!
- Jamie said Bitcoin is a fraud: https://finance.yahoo.com/news/jamie-dimon-bitcoin-fraud-thats-180222751.html
- Jamie's JPMorgan makes its own cryptocurrency: https://finance.yahoo.com/jp-morgan-blockchain-chief-umar-farooq-why-we-launched-cryptocurrency-jpm-coin-201430895.html
- Jamie's JPMorgan accepts cryptocurrency: https://www.coindesk.com/coinbase-gemini-first-crypto-exchange-customers-jpmorgan-bank-report
- Jamie kinda admits the inevitable, that crypto is in the future and they'd better get on the train or be left standing at the station: https://www.coindesk.com/jamie-dimon-regulatory-status-cryptocurrencies-dealt-with
Let's decode each of the above items...
|The official statement...||Which is code for...|
|1. "Bitcoin is only used by drug dealers, gun-runners, and scammers."||"I don't understand it. But it scares the h-e-double hockey sticks out of me."|
|2. "We are constantly innovating so that we're on the forefront of leading-edge technology."||"Wow. That's way better than how we do it."|
|3. "We are always trying to be receptive to our customers' needs and concerns. We're always trying to make their experience better."||"Mr. Chairman, we've got a ton of people with a ton of crypto-money who want to funnel it in here, if we just open the gates. If we don't open things up, it'll go somewhere else."|
|4. "JPMorgan wants to constantly evolve and innovate and to press forward into the future, assuming those things are duly regulated and guarded."||Crap! Crap! Crap! Crap! Crap! We're too late! It's passing us by as we speak!"|
Things to look for in the future...
- Jamie says Bitcoin is an interesting concept, but needs refining
- Jamie starts a committee to investigate Bitcoin, as long as regulation is commensurate
- JPMorgan announces they'll use blockchain tech, likely Ethereum, to enter the DeFi space
- JPMorgan announces that clients will be allowed to hold Bitcoin and ETH in their portfolio's...per their request, of course
- JPMorgan announces to shareholders that a small portion (maybe 0.5%) of corporate funds will be put into Bitcoin as a hedge against uncertainty..."in these challenging times." After all, to not do so would be irresponsible, don't cha know?
- JPMorgan goes in with billions
It's going to happen.
It's okay Jamie...this is written with love! You're on the high dive looking down. You can do it!
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Posted Using LeoFinance Beta