Jamie Dimon says if you’re ‘stupid’ enough to buy bitcoin, you’ll pay the price one day

Jamie Dimon says people who buy #bitcoin are 'stupid'

  • JPMorgan Chase Chairman and CEO Jamie Dimon can’t stop talking about bitcoin.
  • “The only value of bitcoin is what the other guy’ll pay for it,” Dimon said.
  • Dimon did add on Friday that he believed the blockchain technology behind bitcoin was valid, but he does not understand the value of “non-fiat” digital coins, that is, digital currencies which are not backed by a government.
  • “When I made that ‘stupid statement’ [calling bitcoin a] fraud, my daughter sent me an email saying, ‘Dad, I own two bitcoins,'” Dimon then joked, “My formerly smart daughter.”
  • “I could 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.

JPMorgan Chase Chairman and CEO Jamie Dimon can’t stop talking about bitcoin.
Continue reading “Jamie Dimon says if you’re ‘stupid’ enough to buy bitcoin, you’ll pay the price one day”

Former Facebook executive says Google, Facebook are ‘surveillance states’ and risk more regulation

  • Even though he was once an executive at Facebook, Chamath Palihapitiya, CEO of Social Capital Hedosophia Holdings, favors investing in Amazon instead, he told CNBC’s “Fast Money: Halftime Report” on Thursday.
  • But Palihapitiya said he thinks that Facebook and Google face more regulatory risk, given the many retailers that compete with Amazon.
  • “Amazon is a microscopic portion of global consumption today, so ultimately I think it has more room to grow before it invites regulatory overview,” Palihapitiya said.
  • Palihapitiya noted that many big technology companies have seen their stocks soar, making it tempting to take gains.
  • But with tools like Alexa, robots and cloud, Amazon’s technology could lead it to victory over “laggard competitors,” Palihapitiya said.

Chamath Palihapitiya’s holding company, which also includes former Twitter executive Adam Bain, hit the public markets on Thursday.
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Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • In addition, the start-up is looking to open new offices in different countries to expand.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • Smith said that the recent rally in bitcoin has caused high demand for Blockchain’s wallet product, and the funding will help to meet that.
  • Blockchain has nearly 15 million sign-ups with “billions of dollars worth of monthly consumer wallet activity”, Smith said, adding this includes deposits and transactions.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

#bitcoin wallet start-up #blockchain raises $40 million from Google, billionaire Richard

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • Smith said that the recent rally in bitcoin has caused high demand for Blockchain’s wallet product, and the funding will help to meet that.
  • Blockchain has nearly 15 million sign-ups with “billions of dollars worth of monthly consumer wallet activity”, Smith said, adding this includes deposits and transactions.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • In addition, the start-up is looking to open new offices in different countries to expand.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”

Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson

  • Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
  • The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.
  • Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
  • The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
  • In addition, the start-up is looking to open new offices in different countries to expand.

Blockchain will use the money to expand into new territories.
Continue reading “Bitcoin wallet start-up Blockchain raises $40 million from Google, billionaire Richard Branson”