Jamie Dimon humbly eats his own words after thinking twice about jumping into the Bitcoin controversy.
The JPMorgan Chase & Co. chief executive officer, who previously tagged the cryptocurrency a â€œfraud,â€ saidÂ on Tuesday that he wishes he never condemned the technology in such broad terms.
â€œI regret makingâ€ those comments, Dimon said in an interview with the Fox Business network. â€œThe blockchain is real. You can have crypto yen and dollars and stuff like that.â€
In September, Dimon said bitcoin was â€œworse than tulip bulbs,â€ and threatened to fire any trader who bought or sold them for being â€œstupid.â€ The 61-year-old CEO said Tuesday heâ€™s still not very interested in the subject and thinks that government intervention may eventually hamper bitcoinâ€™s growth and acceptance.
â€œThe bitcoin to me was always what the governments are going to feel about bitcoin as it gets really big,â€ he said.
â€œI just have a different opinion than other people. Iâ€™m not interested that much in the subject at all.â€
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The value of digital currencies has surged this year, with everyone from regulators to top bank executives taking note. The price of bitcoin, the most ubiquitous of the currencies, has more than tripled to $14,297 since Dimon made his comments in September.
Dimon reiterated in the interview that he believes in the blockchain, the technology used for verifying and recording transactions that are at the heart of cryptocurrencies. Experts have said blockchain technology could reshape the global financial system and JPMorgan is testing potential use cases of the technology.