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Tuesday 17 October 2017

J. Dimon: If you are stupid enough to buy bitcoin, you will pay for it

Jamie Dimon can not just stay out of the bitcoin. Only one day after his bank announced its quarterly results, and Dimon had swaered never to comment on the bitcoin, he failed to fulfill his quest.
During a conference, Dimon said that if you're stupid enough to buy it, then one day you'll pay the price for it.
In September, Dimon called the bitcoin a scam. After the strong initial depreciation of more than 30%, the cryptocurrency recovered everything lost, reaching new historical records at levels above $5,800.
Despite the remarks made by Dimon, however, the bitcoin survived without significant change at levels of about $5,700.
Meanwhile, the Bitcoin Investment Trust (GBTC) lost about 2% of its value today, with its highest value for the past one year accounting for nearly 40% of the price.
In a special interview, Mark Wydman, a global strategist for iShares, said in an interview with Bloomberg that he does not see a particularly great sense in an index fund on a bitcoin, because we're talking about trading with assets that are difficult to access. If the bitcoin ever becomes successful, why do we need an index to access the bitcoin, the expert asked.

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