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“If you borrow money to buy Bitcoin, you’re a fool,” says JPMorgan CEO

“If you borrow money to buy Bitcoin, you’re a fool,” says JPMorgan CEO



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28 Comments

  1. This is the exact model elite banking and global oligarchs use to avoid paying tax In all forms!

    Borrow all they will give you! Make informed investments correctly in your business and purchase assets of all kinds that are inflationary against the deflationary currency you have borrowed in initially!

    It’s so simple and completely legal to do so, funnily enough there could be JP Morgan CEO’s using this system themselves, and possibly trying their best to keep the cat in the bag for as long as possible!

    Crypto has made obvious what was known for ages, these people are not smart! They have just rigged the system!

  2. Shorting dollars (borrowing) to buy bitcoin is the most prudent investment you can possibly make. Dollars are programmed to go down (inflation) and bitcoin is programmed to go up (fixed supply, high production cost, halving events). Bitcoin is not highly speculative to a long term holder who understands the implications of bitcoin. If you have no idea what you hold or you’re doing TA voodoo and going in and out, then maybe avoid borrowing. If you can get a loan to buy bitcoin today and have cash flow to cover it, and you don’t pull the trigger you are going to seriously regret it when BTC is 200k, 500k, 1m and so on.

  3. Of course he will say that. If you borrow money to buy something that will allow you to pay off your loan sooner then they make less on interest. And at the same time you are creating more demand and making Bitcoin more expensive for them. People like him would prefer that the people on the bottom stay there.

  4. I closed my chase account years ago when this asshat was trash talking Bitcoin. Made sure to let the rep know that’s why I was leaving.

    But I don’t disagree with the sentiment here. This is a volatile investment. Don’t put in more than you’re able to lose. If you’re taking out loans that’s a good indication you’re taking on more risk than you can afford.

  5. He’s projecting onto Bitcoin buyers what he is, a fool for trash talking Bitcoin from the get go. He’s saving face and couldn’t have been more wrong. Smarmy narcissist will keep doubling down and never admit to being wrong.

  6. There’s a huge difference between borrowing money to buy spot Bitcoin and using leverage. If you can safely afford to borrow money and hold BTC for say 5 years, you’ll be fine. You only have to best whatever the interest rate is, which is likely around 4-5% for people with property to secure it.

  7. I’m supposed to listen to someone that puts zero productivity into this country besides creating imaginary markets and lining his own pockets.

    How much did you squeeze from your employees and customers this year Jamie?

  8. those guys are really scared now that seifedean’s new book the fiat standard spills the beans on this little secret fiatsters do. They keep their worth in hard assets and use fiat to lend money at low interest to make investments.

  9. tldr; JPMorgan Chase CEO Jamie Dimon has said that he doesn’t care about Bitcoin. “I think if you borrow money to buy bitcoin, you’re a fool,” he added. “Governments regulate just about everything. I don’t know if it’s an asset. I’m not a buyer of bitcoin,” he further said.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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