JPMorgan CEO Jamie Dimon has been outspoken on how he believes Bitcoin is a scam and a fraud. He’s also stated he would fire anyone who trades bitcoin for being “stupid.” Dimon has been adamant about the future economy remaining fiat, all though a few skeptics believe he is on a campaign against Bitcoin due to him knowing the real threat crypto digital currencies are to the fiat economy.
Jamie Dimon CEO JP Morgan Chase
“The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart,” Dimon said at a bank investor conference in New York.
On December 14, the Chicago Board Options Exchange (CBOE) became the first major options exchange and financial institution to list bitcoin futures in partnership with Gemini, a major US-based regulated cryptocurrency exchange run by the Winklevoss twins.
The listing of bitcoin futures by CBOE and Gemini immediately provided a platform and sufficient liquidity for large-scale investors to either invest in bitcoin or short the cryptocurrency. Through the CBOE futures market, Cameron Winklevoss dared Dimon to short bitcoin and bet against the long-term performance of the cryptocurrency if he actually believes that bitcoin is a scam and a fraud as he said before.
“We’ve been working really hard to give Jamie Dimon an opportunity to short bitcoin, and anybody who says that you know, it’s a fraud or a bubble, you can go now [and] put your money where your mouth is, and bet against it,” Cameron Winklevoss.
“We encourage Jamie Dimon, we encourage him to personally bet against it, bitcoin, take J.P. Morgan’s balance sheet, bet against bitcoin. We’ll see what happens,” Tyler Winklevoss.
Dimon has yet to respond with a statement and with the recent changes in Asia’s cryptocurrency regulations and the addition of crypto stocks on mainstream trading exchanges, it would be a ballsy move for Dimon to make.