BITCOIN

Scottex99

“Pre ETF” pump over the last couple of days. Interesting for a number of reasons.

It’s expected that over 10 could be approved but even if they are, does it become sell the news if the price stalls from there or what if they all get blocked or delayed?

JPM have been caught before openly discrediting crypto whilst buying up the background, would you put it past huge firms trying to do the same again?

Plus the halvening is not far off and historically the true boom doesn’t start until after this.

An interesting few days coming 

MeteredOut

Scottex99 said:

“Pre ETF” pump over the last couple of days. Interesting for a number of reasons.

It’s expected that over 10 could be approved but even if they are, does it become sell the news if the price stalls from there or what if they all get blocked or delayed?

JPM have been caught before openly discrediting crypto whilst buying up the background, would you put it past huge firms trying to do the same again?

Plus the halvening is not far off and historically the true boom doesn’t start until after this.

An interesting few days coming 

Was this the same people/groups within JPM? If not, you can't read much into that since large organisations will always have these disconnects across departments.

Scottex99

I’d have to look for the source but it was high level Jamie Dimon type of thing, from memory.

He called it a fraud and claimed he’d fire his staff if they were buying it personally.

Then there was evidence that JPM was one of the largest buyers of exchange traded notes for Bitcoin.

He said that it was clients purchasing 3rd party products through them.

Either way a bit murky although there is a big crossover between traditional and digital finance coming now, regardless.

MeteredOut

Scottex99 said:

I’d have to look for the source but it was high level Jamie Dimon type of thing, from memory.

He called it a fraud and claimed he’d fire his staff if they were buying it personally.

Then there was evidence that JPM was one of the largest buyers of exchange traded notes for Bitcoin.

He said that it was clients purchasing 3rd party products through them.

Either way a bit murky although there is a big crossover between traditional and digital finance coming now, regardless.

You said "JPM have been caught before openly discrediting crypto whilst buying up the background"

...implying there was some sort of wrongdoing. 

Staff buying crypto personally is not JPM buying it. I can imagine any staff doing that might have been doing so in conflict with their employment contracts, but that does not equate to JPM buying it.

Was there any evidence that it was not client purchases?

Please do share the evidence of what they were "caught" doing, if there is any.

Scottex99

https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

https://finance.yahoo.com/news/people-thought-caught-jpmorgan-buying-183900306.html

I was googling whilst typing my reply (to double check I hadn't made it up or been told it by 5 people with the same agenda).

It doesn't matter, Jamie Dimon doesn't care what I think.

But he did say Bitcoin was a fraud which clearly is not true if JPM end up having institutional flows related to BTC ETFs in some way or another. Or they interact with BTC with their assets. Or if they even allow their clients funds to move to 3rd parties to buy BTC......?

MeteredOut

Scottex99 said:

https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

https://finance.yahoo.com/news/people-thought-caught-jpmorgan-buying-183900306.html

I was googling whilst typing my reply (to double check I hadn't made it up or been told it by 5 people with the same agenda).

It doesn't matter, Jamie Dimon doesn't care what I think.

But he did say Bitcoin was a fraud which clearly is not true if JPM end up having institutional flows related to BTC ETFs in some way or another. Or they interact with BTC with their assets. Or if they even allow their clients funds to move to 3rd parties to buy BTC......?

Thanks. In summary:

One senior JPM guy gave his (less than glowing) opinion on bitcoin.

Some JPM staff execute trades on notes that track the price of BTC, on behalf of their clients.

A few thousand people on social media go crazy.

So, not "caught" doing anything then.

Scottex99

The senior guy. 

He doesn't need to backtrack and he wont, but it's not a fraud as his bank would therefore be nowhere near it?

Or do bankers do fraudulent stuff a lot?




Moving on, see you at $50k tomorrow afternoon when these things get approved, NFA

MeteredOut

Scottex99 said:

The senior guy. 

He doesn't need to backtrack and he wont, but it's not a fraud as his bank would therefore be nowhere near it?

Or do bankers do fraudulent stuff a lot?




Moving on, see you at $50k tomorrow afternoon when these things get approved, NFA

I wasn't passing comment on the senior guy's views or on the morality of banks, but more-so the apparent need by many in the crypto world to, paradoxically, try to both invalidate traditional banks as dinosaur ponzi schemes whilst at the same time trying to use those banks to validate crypto by suggesting they are making trading decisions to buy it.

Good luck with your $50k target

To the moon. #HODL

Scottex99

Haha that’s more like it!

True, I get the paradox, and there will be plenty of BTC maxis cringing at the ETFs despite the likelihood of them being approved pumping their bags.

This is going to look like a complete set up now but I started this walking to work and just finished it walking back, having no idea they would mention Dimon in it.

Worth a listen , not too high level, ofc it’s two pro crypto people discussing but also describes their “eureka” moments where they decided it could be a real thing 

https://open.spotify.com/episode/7tsDJbtcWxnJILOiJuFTFh?si=UnXAI38dR32G_g2gI-r-QQ

joep2

Interesting discussion, not sure many are aware that a senior JP Morgan exec is behind the crypto project RQRX (formerly RVP). RVP tokens were traded until late last year before the contract was paused as part of their migration to RQRX.

https://rsquared.digital/