JPMorgan chief executive Jamie Dimon has admitted that he “regrets” calling the cryptocurrency a fraud in September last year.
In an interview with Fox Business, Mr Dimon said that he believes blockchain, the technology behind bitcoin, is “real”.
The high-profile chief executive added that he is “not interested that much in the subject at all”. “The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people”, he said.
In September, Mr Dimon said that he would sack JPMorgan workers if he found them trading in the cryptocurrency.
Mr Dimon has long been an ardent critic of bitcoin, having previously called it “worse than tulips bulbs,” referring to the Dutch Tulip craze of the 1600s which is widely seen as the world’s first speculative bubble.
Bitcoin’s spectacular rise has forced banks to consider their clients’ demands to speculate on the cryptocurrency. Day by day more and more clients demand accounts in cryptocurrencies, however such people as Mr Dimon who resist to accept the novelty, have very strong opinions. Nevertheless, that fact remains that bitcoin’s value is up more than six per cent from last month and more than 1,565 per cent over the last twelve months.