Jamie Dimon, the current CEO of JPMorgan, is well known for mocking Bitcoin whenever he can. What does Jamie Dimon think about the current Coronavirus crisis 🦠 and about the behavior of BTC in all this?
The president of one of the world’s largest banks, JPMorgan, has continued to praise all the steps the United States government has taken 🇺🇸 in its fight against the Coronavirus pandemic 😷.
But, as we said, Jamie Dimon has repeatedly mocked the world’s first cryptocurrency. For example, in 2017 the CEO of JPMorgan called Bitcoin “a fraud”, at the time when BTC was at its bull run historical, which brought each Bitcoin token to nearly $ 20,000.
On another occasion, he expressed that the cryptocurrency bubble was worse than that seen by tulips 🌷 in the Netherlands 🇳🇱. However, today the answer of what Jamie Dimon thinks about Bitcoin and cryptocurrencies, is quite different.
A few months later, when all the smoke had cleared, and the big gains had been in the past, Jamie Dimon said he was very sorry to have made those statements.
He made these statements just before JPMorgan expressed that he was going to launch his own crypto token: “JPM Coin”.
Jamie Dimon praises Trump and warns about the future
Dimon was one of the first to praise the stimulus package from the United States government 🇺🇸. In JPMorgan’s annual letter to its shareholders, the CEO notes that:
“The mistakes of 2008 were not made this time, as the reaction was very quick and correct.”
“We celebrate the speed at which the federal government and the FED, as well as the other central banks in the world, put together a stimulus package. And other financing benefits to help companies, individuals and state entities at all world borders ”he added.
Although it is true that Jamie Dimon did not just throw roses at the Trump administration. Well, in the same letter, he criticized that the most powerful government in the world did not have a well-orchestrated plan to fight a disease 🦠 like that of the Coronavirus.
“There should be a well thought-out manual on the steps to be followed in such a case. We must already create such a manual, so that if something like this happens again in the future, we simply look back and say that thanks to this we are better prepared. ”
Dimon further states in the letter to shareholders that JPMorgan is operating under the assumption that the impending recession will be at least as bad as the 2008 Great Recession:
“We don’t know exactly what the future holds, but at the very least, we assume that it will include a major downturn in the world economy. The stress that the international financial system is and will continue to receive is tremendous ”.