In the crypto community Brian Armstrong, CEO of Coinbase and Michael Saylor, CEO of MicroStrategy and others have hit back at JP Morgan CEO, Jamie Dimon, over his negative comment on Bitcoin.
JP Morgan CEO said “Bitcoin is worthless” while he was speaking at the Institute of International Finance event.
Jamie Dimon has expressed his comments concerning crypto’s performance
His view on Bitcoin is that the asset lacks any intrinsic value, and he does not want to take in any serious achievement.
However, the bank can give its clients a “legitimate, as-clean-as-possible access” to crypto.
Brian Armstrong responds to Dimon, takes subtle aim at him
Dimon’s questions about Bitcoin’s limited supply pegged at 21 million were answered by the CEO of Coinbase.
The JP Morgan CEO questioned:
“I’ll just challenge the group to one other thing: how do you know it ends at 21 million? “You all read the algorithms? Do you guys all believe that? I don’t know. I’ve always been a skeptic of stuff like that.”
According to Brian Armstrong’s Twitter post response, He said:
“Yes, I read it. And then I wrote it (coding up our own Bitcoin node) to make sure I understood it.” The Coinbase CEO said further, CEOs without a science/engineering background are going to be at a disadvantage in the coming decades” because “software is eating the world, changing every industry.”
He also added:
“Luckily, the tools to learn it are available online for free and are getting better and better. It’s accessible to almost anyone if they are willing to power through it, and at least learn the basics,”
However, Michael Saylor CEO of MicroStrategy remarked, “the critical question faced by bankers and investors worldwide is ‘Do you understand Bitcoin.
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