Tim Draper: "Jamie Dimon is paranoid, bitcoin to hit $250,000 by 2022"

08.04.2019 / 21:36

Rating:

Crypto Bull Tim Draper attacked JPMorgan Chase CEO Jamie Dimon nearly two months after the big bank announced plans to create a digital currency known as JPM Coin.

During an interview, Draper said that Dimon's actions show that he is in the process of acceptance the inevitability of cryptocurrencies.

"This guy first says that bitcoin is a scam ... Then paranoia starts to take him down ... then lines up all the banks against the cryptos ... and says credit cards, my credit cards can not be used to buy bitcoin and then he decides to create his own digital currency ... It is funny, it is typical ... as if watching the 7 stages of ... first goes through the denial phase ... and then they reach acceptance.

JPM Coin was announced in mid-February in order to allow for an inter-institutional transfer of payments.

Draper, however, does not believe JPM coin to be as successful as bitcoin. According to him, the reason is that JPM Coin is "tied to a bank, and people prefer not to use the banks."

The bitcoin bull was less critical when assessing Facebook's coin. According to him, Facebook enjoys a huge database - something that offers an advantage for the cryptocurrency as far as "distribution" is concerned.

Still, for Draper, "Facebook is too late", as their crypto will go a long way behind the others that are being developed and improved for years.

In the same interview, Draper kept his screaming forecast, expecting the biggest crypto to hit $ 250,000 by 2022. The main reason for this will be the broad adoption of people, which is due to the many improvements and developments on digital asset classes.

For bitcoin, reaching $ 250,000 by 2022 means it will have to rise by 4,900%. Currently, the crypto is trading around $ 5,200.

bitcoin

Trader Aleksandar Kumanov

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Tim Draper: "Jamie Dimon is paranoid, bitcoin to hit $250,000 by 2022"

London

Universal numbers