Jamie Dimon reported change on Bitcoin has surprised the markets. But the crypto sector still believes a Trump win would boost Bitcoin.
The crypto market community was divided on Dimon’s reported change in BTC stance.critic, has emerged as one of Donald Trump’s potential candidates for the U.S. Treasury.“Jamie Dimon was, you know, very negative, and now all of a sudden he’s changed his tune a little bit.”However, the JPMorgan chief and chairman have always been negative about Bitcoin, the largest digital asset.
Although Dimon acknowledged the potential of blockchain technology, he didn’t see any use case for Bitcoin and equated BTC to a ““There are cryptocurrencies that do something that might have value. And then there’s one that does nothing; I call it pet rock. The Bitcoin, or something like that.”The executive has maintained his attacks on Bitcoin and, at one point, referred to it as a “Ponzi scheme.
As a result, crypto market commentators have expressed reservations about Trump’s reported “change” in Dimon’s stance on Bitcoin and the overall industry.“This seems like more of a Trump-train-of-thought exaggeration than it does an actual reflection of Jamie’s change of stance on crypto.” However, other industry players, like David Bailey of Bitcoin Magazine and part of Trump’s campaign team, believe that the former president hasIn the meantime, the odds of Trump winning the 2024 U.S. presidential elections are above 60%, and it seems markets could begin pricing his potential win.
Meanwhile, BTC faced rejection at $65K and consolidated below that level ahead of the likely launch of the Ethereum ETF on July 23rd.
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