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Surprisingly for many, JPMorgan is now officially “open-minded” about potential involvement with cryptocurrencies, with the only condition that they should be regulated. As for the CEO himself, he will no longer discuss or comment on Bitcoin anymore. He explained this position during today’s third-quarter earnings conference call with the press.

After making the headlines for several days in a row by calling Bitcoin a fraud, Jamie Dimon seems to be unsettled by the avalanche of reactions that came afterward, including comments from several Wall Street VIPs. 

“I wouldn't put this high on the category of important things in the world. But I'm not going to talk about bitcoin anymore,” said the JPMorgan head. 

The Chief Financial Officer of the bank, Marianne Lake, took a more open approach towards cryptocurrencies:

“We are open-minded for digital currencies that are properly controlled and regulated.” 

Her comments come about a month after Dimon said that he would fire anyone who traded Bitcoin because, according to him, “it's against our rules and they are stupid.”

Other prominent Wall Street CEOs took different positions on the topic. Lloyd Blankfein of Goldman Sachs said that his bank would consider blockchain technology whenever a good opportunity arises, while the head of finance at Citigroup, John Gerspach, said today that cryptocurrencies and the technology behind them represent an area “worthy of exploration”.

At the end of the conference, Dimon added: “I was reminded that we move trillions of dollars a day...digitally. It's not cash,” probably hinting at his earlier comment about Bitcoin not being “a real thing”.

Recently, Bart Stephens, the co-founder of venture capital firm Blockchain Capital, said that there was a lot of “hypocrisy” in Dimon’s comments about Bitcoin being a fraud. 

According to him, at the time Jamie Dimon was criticizing Bitcoin publicly, Stephens was invited by JPMorgan staff, to their San Francisco offices, to speak on cryptocurrencies and blockchain technology. 

Despite all the negativity however, Bitcoin has come back even stronger, rising to record highs today, trading around $5284 at the time of writing.