In 2017, Jamie Dimon slammed Bitcoin. The chief executive of JP Morgan claimed that if any of his firm’s traders were caught trading the cryptocurrency, they would be fired, as it is “dangerous”.
Other figures on Wall Street have echoed this sentiment. Legendary investor Warren Buffett has dubbed Bitcoin “rat poison”, adding that it doesn’t have much more inherent value than a seashell or suit button.
Their main concerns seem to be that crypto assets don’t produce cash flow, have a price-to-earnings ratio, are hard to understand, and potentially pose a threat to the fiat system.
But interestingly, it seems that not all firms on Wall Street have this overt anti-crypto policy and stance. In fact, Goldman Sachs, the famous investment bank, recently released their take on the Bitcoin chart. Read More at NewsBTC...