JP Morgan Buys Into The Bitcoin Price Dip That Flowed CEO Jamie Dimon’s Harsh Comments On Bitcoin

Jamie Dimon the CEO of JP Morgan is facing claims of market abuse from the firm “Blockswater”. According to CityAM, the biggest financial news publication in the UK, BlocksWater has filed a market abuse report.

Dimon attacked the Bitcoin earlier this month at a recent banking conference held by Barclays. Dimon claimed that the Bitcoin cryptocurrency was a fraud and that the government will shut it down. 

This assessment was entirely non-factual as well as inaccurate. 

On September 15th Bitcoin developer Andrew DeSantis and well known Bitcoin trader “IamNomad” published screenshots (below) of four separate purchases of Bitcoin from a Bitcoin Provider on a Nordic Nasdaq-based Bitcoin exchange-traded note (ETN) on behalf of clients. JPMorgan likely requested bank transfers on the behalf of its clients, to an XBT Provider in Sweden in order to invest in Bitcoin through regulated channels.

jp morgan buys bitcoin
JP Morgan Buys Bitcoin

Erik Voorhees who is the CEO of ShapeShift, a Swiss-based cryptocurrency exchange, said that Jamie Dimon’s comments are a standard case of fear-mongering and FUD. Because the banks are concerned about bitcoin’s ability to potentially undermine their business and remove the core businesses of banks.

“Jamie Dimon has every interest in the world in disparaging Bitcoin and working with his friends in government to regulate and suffocate it” Voorhees said.