The ex-CEO of JP Morgan Alex Gurevich has reacted very harshly in response to JP Morgan's current CEO Jamie Dimon calling Bitcoin a Fraud. The ex-CEO just twittered the following comment:
You can read the Tweet yourself here:
It will be curious to see how the market reacts to this rather stern comment! I imagine the former CEO of JP Morgan pulls some weight in the eyes of investors.
What do you think? Is this escalation the end or are we seeing the beginning of a bigger divide? I have not seen such stern words from such high profile figures before.. Have you?
UPDATE: Another Reddit user found another relevant tweet which I decided to add here:
It was a strategic folly for sure.
It worked in the short term.. but its okay. I may get a chance to buy something on the cheap.. I'm already shopping around to see what looks tastiest right now...!!
I think he has been hit by the cryptos so hard that he is scared. He is not only protecting his job but the slice Fiat currency gets from the consumer. Why can't he let BTC traders and investors decide their fate?
Well probably what you said: it's not in his or his company's best interest to leave BTC traders be! But that's why it's so important that other high profile figures speak out against him!
Thanks for your reply and upvote! I appreciate it!
lol! Owned!
Yeah!
There are a bunch of really funny memes in response to the Twitter message too, if you scroll down a little :)
oh please, how many lawsuits did JP Morgan have recently?
I think they'd rather not say! ;)
I really wonder why he came out so unnuanced. What would he gain with such a move? Perhaps there is a lot of frustration from people asking him about Bitcoin/Blockchain taking over the banking system.
Thanks for replying! Who do you mean though, Dillon or Gurevich? They both came out rather strong! In the former I think it's definitely some agenda.. such high profile people don't say random things on television like that.
As for Gurevich, I'm guessing he owns some Bitcoin and is angry about the price drops just like all of us, haha.
It's a good sign though, to see such high profile people 'on our side'.
I mean Dimon.
Why would he care about Bitcoin unless he considers it a threat? If he considers it a threat, publicly denouncing it won't win the battle. Now, it has only created buzz around Bitcoin, which is good for Bitcoin in the long run.
If he considers it a fad indeed, why bother? He cannot possibly be concerned about the fate of all those silly Bitcoin investors (or lawsuits for that matter).
Just an angry (old) man?
Well, if I listen 'between the lines' I am hearing something I have been hearing a lot. There is a lot of resentment from people who aren't in Bitcoin towards those who are. It's a kind of hostility that seems to be fueled by the frustration of being wrong, and will often lead to victorious cries of "See I told you so, Bitcoin is dead" when the market goes down, a kind of schadenfreude. He's basically just a naysayer, using his power to make sure he's right. And he's probably irritated by being proven wrong by his daughter, so this will help him win the fight in being right.
We'll see!
Hah, I missed that reply tweet. Funny stuff. He's right too, dude should refrain from spewing his opinion around given usually those that do, do and those that can't, manage.
Let's just hope this FUD is dispelled soon and passes... so we can all relax and enjoy our ride to the moon again :D
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