Coinbase co-founder supports JPMorgan CEO despite he slammed Bitcoin network

On Jan 20, 2024

Brian Armstrong jumped in support of Jamie Dimon and called him a much better person as the CEO of JPM.

Jamie Dimon is CEO of JPMorgan, a leader in investment banking, commercial banking, financial transaction processing and asset management. Dimon is a Bitcoin & Crypto hater, but he is a supporter of blockchain technology, at which the majority of the decentralised crypto networks are running. For a better payment service experience for the institutions, JPMorgan launched the JPM coin in Q4 2022.

Just a day ago we reported that Jamie Dimon slammed Bitcoin and called it a Black pet. In return, Ark Investment firm CEO Cathie Wood criticised Dimon on behalf of the multiple Bitcoin-related factors & achievements we did with Bitcoin.

Today, JPM’s Jamie Dimon called blockchain technology small, and added that bitcoin, a derivative of blockchain technology, is the equivalent of a “pet rock”. Data flies in the face of Jamie’s description, as @yassineARK, our Director of Digital Assets, highlights here! https://t.co/TsSDyTTyuk
— Cathie Wood (@CathieDWood) January 19, 2024

Wood also suggested Dimon to look at Coinbase CEO Brian Armstrong, a highly popular crypto entrepreneur in the US.

In 2004, I remember that one of the reasons investors were excited that JPMorgan bought Bank One was that its CEO, Jamie Dimon, was so tech savvy. Tech oriented investors at the time admired him enormously. Jamie, I would like to introduce you to @brian_armstrong. https://t.co/Vg1MhTXZib
— Cathie Wood (@CathieDWood) January 19, 2024

On 20 Jan 2024, Brian Armstrong responded to the whole matter and said that JPM is one of the best partners of Coinbase exchange and also the JPM CEO is the best person as a CEO.

Armstrong also said that he respects Dimon despite contradictory opinions on Bitcoin.

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We’ve met, and JPM has been a great partner to us. Even if we don’t fully agree on Bitcoin, I have a lot of respect for Jamie as a CEO and have learned a lot from him. Actually everyone I’ve met from JPM has been top notch.
— Brian Armstrong 🛡️ (@brian_armstrong) January 20, 2024

It is worth it to note that JPM engaged in multiple crypto services support directly & indirectly but JPM CEO Dimon remains always against bitcoin.

In the past, Dimon said that Bitcoin’s growth obviously will be better until a total of 21 million Bitcoins are mined but after that Bitcoin economy will start to turn back. In short, Dimon believes that the future of Bitcoin is dark.

Bitcoin price

The current trade price of Bitcoin (BTC) is $41,596 & this trade price is 0.5% higher over the last 24 hours.

Coinbase co-founder supports JPMorgan CEO despite he slammed Bitcoin network 1

It is expected that the trade price of Bitcoin will remain stable at this price range until all the fund managers complete the redemption process of their corresponding Bitcoin trust products e.g. Grayscale GBTC.