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#crypto #bitcoin #investing

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Welcome back if it’s not the one and only JP Morgan CEO Jamie Diamond once again calling Bitcoin a pet rock and telling the CNBC contributors that he doesn’t want to talk about it anymore let’s get into why Jamie Diamond why JP Morgan are basically potentially you know futing Bitcoin while they’re

Potentially Shilling other coins like the number two crypto ethereum which in my view and my thesis on this channel is that ethereum is actually the true owners and true controllers of the ethereum blockchain and I have several videos about this on my channel I’m actually going to be posting a a

Playlist called ethereum is controlled by the banks that way it’s easier to find the individual videos but before we go there let’s hear Jamie Diamond’s recent comments comment comments this is at the world economic Forum uh happening in the beginning of 2024 in January and uh they asked him some very pointed

Questions on crypto and I want you to listen to his responses because what I’m going to be showing you after this is a compilation of his previous comments about Bitcoin throughout the last you know 10 or so years and also the true motive behind what he’s saying because

If you follow where the money is Flowing it’s flowing from JPM into one particular ular crypto project and so let’s listen to what Jamie Diamond says and before we do that don’t forget to give the video a free Thumbs Up Hit That subscribe button that way you never miss

A new video remember I upload every single day of the year since 2018 to make sure you are on the to the top of the latest happening in these financial markets nothing I say is financial advice so do your own research let’s listen to what Jamie Diamond said in

This conversation we’re going to make this 1.25 time so if you’re already watching this a little bit faster speed it’s going to get a little bit faster during the interview but you guys should still be able to uh hear and understand what they’re talking about by the way

Most of the time when I’m watching like YouTube videos I’m watching it a 2X which is very fast but let’s listen in could we can we pivot to a topic that I know I know you find sort of laborious at this point uh good good word which is

Bitcoin um this ETF was approved just about a week ago now and I think a lot of people are trying to understand what it ultimately means JP Morgan I imagine uh if you’re were a client of JP Morgan you could call your broker and say uh

Get get get me some of this ETF U what are you telling what are you telling your Brokers to tell them back when they make that call yeah so this is an important thing I would this is the last time I’ve ever talk about this in CNBC

Okay so help me God blockchain is real it’s a technology we use it it’s going to move money it’s going to move data it’s efficient we’ve been talking about that for 12 years too and it’s very small okay so I think we’ve wasted too many words in that cryptocurrencies there are

Two types there’s a cryptocurrency which might actually do something think of a cryptocurrency has an embedded smart contract in it and then we can use it buy and sell real estate and move data that may have value idea token boom okay pause right here for a second he’s

Specifically saying he he never wants to talk about Bitcoin again we know that’s BS he obviously does and not only he does but JP Morgan wants to talk about Bitcoin but beyond that right and there there’s a lot more and you’ll hear what he says like what his views on you

Owning Bitcoin is in just a minute here but remember I said focus on what he is saying right he’s saying well there’s cryptos and there’s blockchains blockchains have real use cases he even said that JP Morgan has used the blockchain they’ve actually created several of their own blockchains uh one

That they gifted to consensus which is the main developer behind the ethereum blockchain but besides that uh now he’s saying well blockchains of value can tokenize assets right real world assets and and real estate transactions and all of that and embed it into a smart contract can Bitcoin do that no ethereum

Can do that so you’re already starting to hear right the the truth coming out from what Jamie Diamond really believes it has nothing to do with Bitcoin or Solano or any of these other coins it has to do with ethereum they have been behind ethereum for years at this point

And we’re going to get into that in just a few minutes but let’s continue listening to what Jamie says on squawkbox to tokenizing things that that you do something with and then there’s one which does nothing I call the pet rock the Bitcoin or something like that

And so on the Bitcoin you know there’s first and I’m I’m not trying to make a joke here there are use cases AML fraud anti-money Laing tax avoidance sex trafficking those are real use cases and you see it being used for hundreds maybe 501 billion a year for that that is the

End use case everything else is people train among themselves so spe yeah now okay now my last statement the last every talk about Bitcoin is I defend your right to do Bitcoin I think you know it’s okay I don’t want to tell you what to do so my personal advice was we

Don’t get involved but I don’t want to tell anyone of you to do is a free country what do you make what do you make of what do you make of the other firms the black rocks of the world that that obviously lar think changed his view of this obviously and maybe he

Changed his view because you think he genuinely believes in Bitcoin or or believed it because he thinks that there’s a Marketplace for it and he wants to be part of that market but what do you think of the there’s about a dozen big Financial companies Fidelity

Ined number one I don’t care so just please stop talking about this and and I don’t know what he would say about blockchain versus currencies that do something versus Bitcoin that does nothing it maybe that not different to me but so you guys hear it right and and

And I do agree with what Jamie is saying right even if he doesn’t agree with it that’s fine he he cannot agree with it he cannot agree with uh what its use cases are but if at the end of the day uh this is a free country and you

Should be able to access these products if you want and this is I believe part of the reason why JP Morgan allows access to grayscale products these Bitcoin ETFs Etc because number one they understand this is about money number two I don’t really think that they have

That big of a they I don’t think that they care that much to be honest with you right their business the bank business is issuing debt this is why the US is is in extreme debt $34 trillion in debt we almost doubled the debt since I started this channel when I started this

Channel back in 2018 the US national debt was 19 trillion we’re now at 34 trillion four trillion away from doubling in just less than 10 years and it took us 200 plus years just to get to this point and we’re doubling that in uh so you can see the the the rapid

Expansion of these products and this is why Bitcoin this is why ethereum this is you know they they know that the dollar is under threat they know that you know there it’s not backed by anything and the the hyperinflation there has to be a a resolution and there is none currently

The only resolution is another currency right and so I think that while Jamie diam is making it about Bitcoin it’s really about ethereum and I’m going to show you guys why in just a minute first let’s watch Jamie Diamond Through The Years uh again we’re going

To put this at two 1.25 speed uh and you’re going to we’re going to kind of of skip around a little bit but it started 2015 when he starts to FUD Bitcoin let’s listen in how do you see when there becomes a shadow system where you have technology but there would be

Entrepreneurs who would kind of run a shadow economy system based on bitcoin so how would you see that play out it’s not it’s just not going to happen you wasting your time so you think they when the doj calls someone up and says that’s an illegal currency it’s against the

Laws of the United States Atlanta if you do it again we’ll put you in jail it’s over so you really there’s no issue there will be this is my personal opinion there will be no real non-controlled currency in the world I can care less what Bitcoin

Trades for how it trades why it trades who trades it if you’re stupid enough to buy it you’ll pay the price for it one day I’ve also told people that it can trade it $100,000 before it trades to zero know tulip ball traded for $75,000 one something like that the only value

Of a Bitcoin is what the other guy will pay for let me ask you my Bitcoin because that was another famous comment that you made that it’s a fraud now we see in which I regret making the blockchain is real you can have crypto dollars and Yen and stuff like that icos

You got look at everyone individually the Bitcoin was always was what the governments are going to feel about Bitcoin it gets really big big and I just have a different opinion of people I’m I’m I’m not interested that much in the subject at all I personally think

That Bitcoin is worthless but I don’t want to be Asos with I don’t care it makes no difference to me and I’ve made my views perfectly clear about crypto tokens are like pet rocks and and and and people hyping this stuff up that doesn’t mean blockchain is not real that

Doesn’t mean smart contracts won’t be real or web3.0 Bitcoin itself is a is a hyped up fraud the pet rocket back to that really of course yeah how do you know and that’s uh you know the current day the video that we just saw at the end of the

Day here’s the deal they’ve been wrong 100% of the time and he went from no blockchain no Bitcoin to well blockchain’s okay web 3 is okay well guys we know from court cases that consensus shareholders have won the battle in war for critical ethereum infrastructure not only does JP Morgan

Own critical infrastructure behind ethereum called infra uh sorry infura they also o own basically the critical infrastructure for metamask which is the basically the number one hacked wallet in the world and also really the number one ethereum wallet uh from my understanding as well and so metamask secret project could shake up how

Ethereum works metamask is quietly testing new tech that uses third parties to Route user transactions that will eventually be made available outside of metamask and will be closely scrutinized for how it manages to avoid centralization concerns I mean the centralization issue in ethereum has been uh talked about for

Years and it’s only going to get more centralized the banks are owning this they’re controlling this they want to use ethereum they want to use the infrastructure that they’ve created and that they’ve funded for uh you know for their their Banks and to make things cheaper for their Banks it’s very clear

At least to me why would they own critical infrastructure on the ethereum network like the metamask why would they own that because they want to why would they be banking coinbase and Gemini why would they be going live with their first blockchainbased collateral settlement Network called JP Morgan Onyx

At the end of 2023 and by the way that’s not their only blockchain they have multiple blockchains that are basically developed and owned by JP Morgan this Onyx blockchain is ethereum based and it’s the banks tokenized collateral Network for JP Morgan it was used by Black Rock to tokenize shares and one of

Its money market funds the tokens were then transferred to Barclays for collateral in an OTC derivative trade the tokenization of financial assets it’s a big deal for banks and it’s an area JP Morgan has been leading the charge with now with by the with the likes of city and others so that’s what

They’re doing and I believe that the reason they’re doing this is because they are behind ethereum and they want to continue to build within that ethereum ecosystem so fud Bitcoin talk about blockchain because ethereum has a blockchain underneath it right and so so even if JP Morgan is not necessarily

Using ethereum directly maybe they’re using as a layer two maybe they’re building within uh the ecosystem that you know they have their private blockchain but it it receives and sends data or it’s bridge to these public blockchains I don’t know because they’re not going to tell us Brad Mills a Bitcoin Maxi on

X said JP Morgan owns consensus metamask and is very supportive of ethereum he forgot to write in fura eth ETF is coming and Larry think wants to tokenize the world they can’t stop Bitcoin nor self- custody the only thing they can do is try to minimize Bitcoin by elevating

Crypto systems that they can control and that basically is ethereum and so e JP Morgan analysts are even saying an ethereum ETF approval only has a 50% chance to be approved by May of 2024 you think they’re just like guessing this no it’s because they know because they are

Behind ethereum and do you think they want an ethereum ETF probably not right away they want to see what happens with a Bitcoin ETF and how it affects the price because if you guys been following my videos anytime the um SEC has approved Bitcoin futures or ethereum

Futures on the open market over the last two cycles that has been basically the top of the market and after those Futures go live the market goes straight down I believe that they’re approving these Futures to then go and manipulate the price in the markets because otherwise if they’re not manipulating it

The price would probably keep going up in crypto assets and so they’re build all these products on top like these ETFs and then derivatives on these ETFs to help them stabilize and keep the price where they want it anyway let me know what you guys think Down Below in

The comments also don’t forget to give the video a free thumbs up we upload every single day so hit subscribe I’ll see you tomorrow invest responsibly do your own research and crypto on