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The JP Morgan executive said Bitcoin will be used by criminals for its cross-border transaction ability.
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Later the CEO took the words back following the BTC price growing over 500% within a year since his comments.
The journey of the first cryptocurrency, Bitcoin (BTC), has been astonishing in every aspect. The first-of-its-kind virtual currency not only survived within the world alongside the age-old traditional financial system but went hand in hand with it in recent years. One such instance is the change of JP Morgan Chase CEO’s stance on cryptocurrency six years ago went from criticizing it to later honoring it by serving over its platform.
Chief executive officer at the prestigious banking institution JP Morgan, Jamie Dimon, gave his remarks on Bitcoin (BTC) during an interview in 2017, which was taken seriously all around.
Though the intractability, anonymity, and fast international transactions were treated as an advantage of digital ass
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