JP Morgan Chase CEO: Bitcoin could increase 10x in a matter of five years

Jamie Dimon, JP Morgan Chase CEO, stated that Bitcoin is overestimated; meanwhile, the head of the world’s largest bank accepts the fact the first cryptocurrency is going to increase more, hitting new records. Dimon sees it possible for BTC to skyrocket by 10x.

During the interview with Times of India, JP Morgan Chase CEO commented on his attitude towards Bitcoin: “I don’t really care about Bitcoin. I think people waste too much time and breath on it. But it is going to be regulated.”

Dating back in 2017, Jamie called Bitcoin a fraud, understanding this instrument as a means for criminals. As of today, he’s obviously changed his mind; meanwhile, Dimon is far from making the first steps in the crypto investment.

At the same time, JP Morgan Chase becomes more and more crypto-progressive. The bank has bought a 10% stake in Microstrategy, the world’s biggest corporate holder of BTCs. Furthermore, the firm hired a set of employees for crypto-related jobs. One more important step lies in the plans to unlock crypto investing opportunities for wealthy clients.

The capitalization of JP Morgan Chase is $498.96 billion (76.9% growth within the year), while the market cap of Bitcoin is $786.91 billion (295.4% growth within the last year).