The JP Morgan Truth about Bitcoin

So last year Goldman Sachs CEO Lloyd Blankfein, said this about Bitcoin : “Something that moves 20% [overnight] does not feel like a currency. It is a vehicle to perpetrate fraud.”

He further added:

“When do I have to have a bitcoin strategy? Not today. Life must be really rosy if that is what we are talking about,” he said. “Bitcoin is not for me. A lot of things that have not been for me in the past 20 years have worked out, but I am not guessing that this will work out.”

Oh by the way a few days ago Goldman Sachs just spent USD 400,000,000.00 to buy Poloniex which is a cryptocurrency exchange for people to trade bitcoin for other cryptocurrencies and vice versa. Thats a lot of money to spend on something that you consider a vehicle for fraud don’t you think?

Don’t listen to what Big Money says. Watch what they do. Actions speaks louder than words. Just like when Jamie Dimon the CEO of JP Morgan talked crap about bitcoin being a fraud and then a few days later JP Morgan bought more than 9000 bitcoins when the market panicked over his comment. Coincidence? No absolutely not.

Wake up. now.