Dimon Called Bitcoin a Fraud but JPMorgan Is Citing Prices
(Bloomberg) -- JPMorgan Chase & Co.'s chief executive famously panned bitcoin. His bank's clients apparently aren't ready to dismiss it as a “fraud.”
The Wall Street firm's widely followed morning markets note highlights the spot price for the cryptocurrency. There it sits, right below a rundown of commodities and above the 10-year Treasury yield -- hardly fringe assets.
It's the latest sign that Wall Street is embracing the likes of bitcoin. While most financial firms have been exploring ways to leverage the blockchain technology underpinning cryptocurrencies, they're now increasingly responding to growing interest from clients to track and even trade the digital coins.
--With assistance from Lily Katz
To contact the reporter on this story: Matthew Levine in New York at mlevine31@bloomberg.net.
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Brendan Walsh
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