Quote from: Franctoshi on Today at 07:14:24 PM

Quote from: kotajikikox on Today at 01:13:55 PM

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

Jamie Dimon has explicitly criticized bitcoin before and multiple times at that too. He has called bitcoin a scam and has linked bitcoin to crimes like money laundering, tax evasion, even drug trafficking. His "approval" of bitcoin etfs in the bank to me seems like because he knows the benefit of using bitcoin but just refuses to admit it. He is most likely not wanting to be left behind so he has no choice but to allow the bank to offer bitcoin so they do not lose clients. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said

This is most likely what will happen with other centralized banks. Forced to conform to the trend that is bitcoin to keep up with the times.

I doubt if he doesn't understand what Bitcoin is all about or its wonderful potential that Bitcoin offers, but they're fearful of Bitcoin possibility of eliminating them “the Banks” out of Business because of Bitcoin and cryptocurrency self custody capability and not really about Bitcoin increasing the cyber crime of a thing or helping in money laundering or drug trafficking, but forgot to look at it in such a way of leveraging the Technology or even going into offering a trading platform to enable people who wants to trade leverage trade efficiently by establishing its crypto exchange.

Banks will stay either way, BTC clearly won't kill fiat-based operations, not right away for sure - most of the people would still linger to the ordinary state of things, no matter what.