After the Boss Calls Bitcoin a ‘Fraud’ — JP Morgan Buys the Dip
Jamie Redman, 16 September 2017
Just recently news.Bitcoin.com reported on JP Morgan executive Jamie Dimon calling bitcoin a “fraud” and claiming he would fire any employee from his firm who traded the digital currency for being “stupid.” Now it seems JP Morgan has been caught red-handed purchasing a bunch of XBT shares, otherwise known as exchange-traded-notes, that track the price of Bitcoin.
According to public records of Nordnet trading logs, the two associated firms JP Morgan Securities Ltd., and Morgan Stanley bought roughly 3M euro worth of XBT note shares. Interestingly after the recent regulatory crackdown in China, and the statements from JP Morgan’s senior executive Jamie Dimon talking trash about bitcoin, his firm bought the dip on September 15. In fact, out of all the companies on the list, like Goldman Sachs and Barclays, the JP Morgan team of buyers purchased the most XBT notes.
