CEO Jamie Dimon confirms his stand on cryptocurrency but the bank itself is making moves. At the same time, Mastercard reveals high crypto-interest among clients.
After sharing his strong opinion on Bitcoin being a fraud back in 2017, JPMorgan CEO Jamie Dimon expects to receive even more of a backlash after his latest controversial statement, confirming his opinion on the matter has not changed.
Dimon told The Wall Street Journal “I know I’m going to get tons of emails after this.”
So what could he have said that would have caused such stir, you may ask? Well, when the CEO of JPMorgan goes public saying “ I’m not a Bitcoin supporter. I don’t really care about Bitcoin… I have no interest in it”, one can expect things to heat up.
Soon to Provide Clients Access to Bitcoin Investments
This may be Dimon’s personal opinion but the bank itself is actually starting to provide some products related to cryptocurrencies and even launched a crypto investment product, tracking public company stocks with Bitcoin exposure in March. JPMorgan is rumored to soon provide clients access to Bitcoin investments.
Despite his own lack of interest, Dimon admitted that JPMorgan’s clients are very much interested in BTC, stating:
“On the other hand, clients are interested and I don’t tell clients what to do … They want to be able to put it on statements, they want to be able to buy and sell it. If we can help them do those things very, very safely with all the proper disclosures then, you know … it’s not my job to decide what they’re going to do with their money”.
Mastercard Clients Are Very Crypto-Curious
While Dimon can expect some heat coming in his direction, Mastercard presents the results of a recent survey, where 40% of their clients confirm plans to use cryptocurrency.
The survey covered consumers in as many as 18 countries and the interest in crypto is increasing by the day. According to Mastercard, as many as 93% of their clients will consider using at least one emerging payment method, such as cryptocurrency, during the upcoming year.
In February 2021, Mastercard revealed its cryptocurrency plans and announced that the company is planning to support crypto payments in 2021.
Millennials Are Leading the Way
The survey further finds that “ Millennials globally and those in the Middle East and Africa are especially engaged in the cryptocurrency conversation, with more than half (67%) agreeing they are more open to using cryptocurrency than they were a year ago … In addition, 77% of Millennials are interested in learning more about cryptocurrency, while 75% agree they would use cryptocurrency if they understood it better.”
What to Expect
We can probably assume that Jamie Dimon was not among the people being approached for the survey and while the results presented are not very surprising, Dimon’s statement on BTC is and we are interested in seeing what kind of heat he will attract.
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