How does that old Kenny Rogers song go?
“You got to know when to hold them, know when to fold them…”Well JPMorgan Chase chief Jamie Dimon must be humming that tune. Dimon on Thursday moonwalked his comments on Bitcoin back a little and let his CFO Marianne Lake expound on the virtues of the cryptocurrency and the underlying technology called the blockchain.
The comments came after bitcoin broke through the $5K mark on Thursday morning. In early Friday trading the digital currency hit $5,888 another new high.
This latest move –roughly $1,400 spike in the last week — comes as rumors circulate that some Silicon Valley heavyweights are looking to use bitcoin on their platforms.
Amazon and Google are the two bigger names eyeing the cryptocurrency, according to published reports.
“There are rumors on the street for Amazon and Google are ready to accept bitcoin for their services,” Oliver Bussmann, former CIO at UBS who now runs his own bitcoin consultancy told The New York Post. He added that investors are spreading rumors that China may reverse its decision from last month and issue licenses for bitcoin exchanges.
“Do I think we are just in the beginning?” Bussmann asked. “Yes. I think so.”