Bitcoin's largest critic, Peter Schiff, not too long ago shot down that concept after his X publish praising Jamie Dimon's blockchain speech throughout a dwell broadcast session with Fox Enterprise went viral.
The publish speculated that the JPMorgan CEO, who has lengthy criticized Bitcoin, would lastly change his place and embrace blockchain expertise, however Peter Schiff responded in an unfriendly method, making it clear that the JPMorgan CEO's stance on Bitcoin itself has not modified.
Dimon praises blockchain expertise
Throughout the dwell session, Dimon defined that blockchain expertise is actual, sooner and cheaper, and acknowledged that JPMorgan has been transferring trillions of {dollars} a day on blockchain.
The publish subsequently interpreted Dimon's reward for blockchain as a significant reversal after years of calling Bitcoin a rip-off.
Moreover, the publish highlighted JPMorgan's rising blockchain efforts, together with stablecoins on Base, tokenization of real-world belongings, and experiments with on-chain funds.
However, Schiff made it clear that this pleasure was misplaced and stemmed from excessive misunderstandings, and reasserted that the general public determine has not modified his views on Bitcoin.
In response, Schiff defined that Dimon's feedback have been strictly about blockchain expertise and stablecoins, not Bitcoin, and that he was drawing a line between enterprise use circumstances for blockchain and monetary infrastructure for Bitcoin.
Specifically, Schiff argued that it’s deceptive to interpret Dimon's feedback as a bullish stance on Bitcoin. Schiff stated JPMorgan's CEO nonetheless views Bitcoin as Ponzi and strongly believes that his long-standing criticisms of Bitcoin haven’t modified.
Due to this fact, Peter Schiff is strictly clear that institutional blockchain adoption doesn’t imply assist for Bitcoin.
