Galaxy CEO: JP Morgan CEO 'arrogantly' ignored Bitcoin's value

Galaxy Digital CEO Mike Novogratz slammed JPMorgan Chase CEO Jamie Dimon’s recent comments regarding Bitcoin and cryptocurrencies. The JPMorgan Chase boss told a congressional hearing earlier this week that "if he were the government, he would shut down cryptocurrencies," claiming that cryptocurrencies are primarily used by criminals, drug dealers, money launderers and tax evaders. Mike Novogratz said his firm’s clients believe in Bitcoin, saying: “We’re seeing it in our client base. Our trading desk has been busy buying hedge funds. We’re seeing it in institutional buying. So, I Don’t know how Jamie Dimon thinks he’s smarter than all these people.” He emphasized that Jamie Dimon is a kind of supreme “arrogance.” “Frankly, it turns out Jamie Dimon was wrong. Over one, five, ten years – you name it – Bitcoin has far outperformed JPMorgan stock. People all over the world believe it. , also believe in the ecosystem of the community. They see the government spending too much money, not just in the United States but around the world, and think you're going to devalue fiat currencies." Mike Novogratz also quoted the BlackRock CEO saying he wants to see Bitcoin in all investment portfolios. (News.bitcoin)