People are pouring money into bitcoin and other cryptocurrencies because they are more willing to take risks in a benign economic environment, according to a fund manager.
wild volatility and use in illicit activities.
J.P. Morgan CEO Jamie Dimon called bitcoin a “fraud” in September last year, but on Tuesday told Fox Business that he regretted those comments, adding that he is “not interested that much in the subject at all.”
China has also taken action to clamp down on virtual tokens, and in 2017 moved to close domestic bitcoin exchanges.
The introduction of bitcoin futures contracts by Cboe and CME last year led to optimism from experts hoping more institutional investors would start to participate.