Cryptocurrency bull Tim Draper has fired a shot at the chairman and CEO of JPMorgan Chase, Jamie Dimon, nearly two months after the big four U.S. bank announced the creation of a digital currency known as JPM Coin.
In an interview with crypto personality Wendy O, Draper said Dimon’s actions show that he is grieving stage of acceptance with regards to the inevitability of cryptocurrencies:
That guy… first he says that bitcoin is a scam. Then he gets all paranoid… then he lines up all the banks against it… then he says credit cards, my credit cards cannot be used to buy bitcoin and then he decides he’s going to do his own coin. I mean that was so ridiculous. That’s typical… it’s like the seven stages of… they go through denial… then they go to acceptance. So he is at acceptance.
Fiat Coin for Inter-Organizational Payments Not Ordinary Folks
The JPM coin was announced in mid-February for the purposes of enabling inter-institutional transfer of payments.
Draper, however, doesn’t see the JPM coin being nearly as successful as bitcoin. Per Draper, the reason is JPM Coin is ‘tied to a bank and people would rather not use a bank’.
The bitcoin bull was, however, not as harsh in his assessment of the rumored Facebook coin. Per Draper, Facebook enjoys a huge userbase and this would be advantageous for the rumored cryptocurrency with regards to ‘distribution’.