In 2017, the chairman of a major bank, Jamie Dimon of JPMorgan Chase, made headlines by publicly declaring that Bitcoin was a “fraud” and “worse than tulip bulbs.” He warned people to stay away from it, predicting it would eventually “blow up.” His comments sent Bitcoin prices dipping as investors panicked, believing the head of a giant financial institution might know something they didn’t.
But here’s the twist: despite his harsh words, JPMorgan Chase was later caught helping clients trade Bitcoin. The bank even started looking into blockchain technology for its own transactions!
Essentially, while Dimon was telling people Bitcoin was worthless, his own bank was getting in on the action.
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