For what it’s worth, I think Jamie Dimon is wrong about bitcoin and other cryptocurrencies. (He calls bitcoin a fraud, and predicts its imminent collapse.)
I disagree with him. I think we’re all in for a massive shock to our long-established currency system. And why not? Is there anything peculiar about our currency framework that should render it immune from all the disruption taking place across various other industries?
I’m not exactly signaling the end of ‘traditional’ currencies, but I think that, even five years from now, the banking industry will not exist in the way it does today.
Serious change is afoot. Bitcoin and its brother cryptocurrencies are here to stay. And I think they will flourish. They are, for sure, slowly becoming mainstream.
Still willing to bet against bitcoin? I wouldn’t be so sure.