After calling Bitcoin a “fraud” back in September and causing its value to crash, Jamie Dimon, CEO of JPMorgan, said in an interview with Fox Business that he regrets his comments and that the Blockchain technology is “real”. He said:
“The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people. ”
Despite backing down on his views, the chief executive added that he still has no interest in this subject. He has been one of the ardent critics of digital currencies, having called the cryptocurrency market a “bubble worse than tulips bulbs”. Tulips bulbs are widely regarded as the world’s first speculative bubble.
Other financial institutions such as Barclays revealed in July 2017 that they are discussing the potential uses of digital currencies. Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale have taken into consideration and launched investigations into the use of Blockchain technology to build a digital currency platform of their own.