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JPMorgan CEO Says BTC Is Fraudulent, a ‘Pet Rock;’ Bank of America Says CBDCs Are ‘Natural Evolution’ — Bitcoin.com News Week in Review

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JPMorgan CEO Says BTC Is Fraudulent, a "Pet Rock;" Bank of America Says CBDCs Are "Natural Evolution" — Bitcoin.com News Week in Review


JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “hyped-up fraud,” and a “pet rock.” For it’s part, Bank of America has said that it views central bank digital currencies (CBDCs) and stablecoins as a “natural evolution of today’s monetary and payment systems.” This and more on inflation and the U.S. Federal Reserve’s next moves, just below.


JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Hyped-up Fraud’ — Expects Satoshi Nakamoto to Increase BTC Supply Cap


JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins.


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Morgan Stanley CEO Says Inflation Has Peaked and China Has Made a Major Pivot


Morgan Stanley CEO James Gorman says two changes have happened recently that “really matter” to the economy. The executive explained that inflation has clearly peaked and China has made a “major, major pivot” economically.


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Bank of America: ‘Digital Currencies Appear Inevitable’


Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.”


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All Eyes on the Next Fed Meeting: Market Trajectories Hinge on Decision


Equities, precious metals, and cryptocurrencies have been on a tear during the last few weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting. Federal Reserve governor Christopher Waller recently said that he favors a quarter-point benchmark rate increase at the next FOMC meeting. Analysts believe that current market trajectories will be dependent on the outcome of the next Fed meeting.


Read More Tags in this story Bank of America, CBDC, China, Federal Reserve, inflation, jamie dimon bitcoin, jpmorgan, Market Trajectory, Markets, morgan stanley


What are your thoughts on this week’s stories? Let us know in the comments section below. Bitcoin.com


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Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Bank Custodia Denied Membership in US Federal Reserve System Next articleNearly $13 Billion in Sales: Breaking Down 5 NFT Collections by Sales Volume  Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

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