Bitcoin is doing what banks do… but much better
Jamie Dimon went on a crusade against Bitcoin, contributing to the recent downward spiral. But that has changed and now Bitcoin is on it’s way back up to $4000. Bitcoin is known for it’s insane returns and many big names, the Winklevoss twins have gotten in on the action. In 2015, Bitcoin was only $400 each. At it’s all time high, Bitcoin was worth around $5000.
Dimon called Bitcoin a ‘fraud’ and called all the investors stupid. He compared it to the Tulip Bulb frenzy of the 17th century. He said Bitcoin was only used by drug dealers and murderers. He seemed very sure Bitcoin was on it’s way out.
Dimon is undeniably, one of the best banking CEO’s in the world. But he could not be more wrong about Bitcoin and Cryptocurrencies. Sure, Bitcoin isn’t perfect, there is fraud, scams, and extreme volatility. But Bitcoin is the future. Bitcoin does what banking does, but for less money and much quicker. There is a reason Dimon is speaking out against Bitcoin, he is afraid.