Jamie Dimon’s Worry About Bitcoin is “Epitome of Hypocrisy” – Mike Novogratz

Godfrey Benjamin
December 7, 2023
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
US Voters No Longer Fancy Old Politicians, Mike Novogratz Says

Galaxy Digital founder and CEO Mike Novogratz was on Squawk Box earlier on Thursday and responded to Jamie Dimon’s recent slander of Bitcoin, calling it an “epitome of hypocrisy.” 

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The JPMorgan CEO Bitcoin Slam

Novogratz joined the Squawk Box to discuss the recent performance of Bitcoin and the broad crypto rally that is emerging in the digital asset landscape. The discussion centered around the drivers of these price rallies and the impact that it has on investors. The host of the show, Andrew Ross Sorkin recounted the bold outburst on Bitcoin by JPMorgan CEO.

While attending the Wall Street oversight hearing by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill which was held in Washington, DC, on Wednesday, Dimon lashed out on Bitcoin, stating that he would “close down” the coin if he were the government. He described BTC as a tool used by criminals to perpetrate their illicit acts.

When asked his thoughts on Dimon’s stance, Novogratz pointed out that the financial entrepreneur has constantly doubled down on BTC but has also been consistently wrong in his sentiments. Novogratz claimed that many JPMorgan clients are Bitcoin proponents who perceive the flagship cryptocurrency as a store of value. 

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BTC Moves to Prove Jamie Dimon Wrong

Considering the status of most of crypto companies and their confidence in Bitcoin, the Galaxy Digital Chairman wondered how come Dimon believes he is smarter than the many investors as it relates to BTC. Moreso, the leading crypto coin has prove the Bitcoin-skeptic wrong by skyrocketing to new 2023 highs. At the time of this writing, BTC is trading at $43,663.62.

This year, the coin has recorded up to 160% surge in value. The rate of mainstream as well as institutional adoption of Bitcoin is outstandingly alarming. Novogratz confirmed the massive adoption of Bitcoin, citing that it is in almost every investor’s portfolio as hedge funds and institutions are constantly buying the coin.

Squawk Box’s Sorkin asked Novogratz if he ever considered that the JPMorgan CEO may have made the outlandish statement about Bitcoin to make the United States SEC reconsider a possible approval for spot Bitcoin ETF. In response, Novogratz reiterated that the regulator is definitely approving the several applications it has before it.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.