Meet Jamie Dimon, the chief executive officer of one of the most influential companies the world has ever seen, JPMorgan Chase & Co. Yesterday, Mr. Dimon commented on Bitcoin and Blockchain technology forecasting that the end of Bitcoin will come when government regulation is solidified and that the Bitcoin craze is similar to 'tulipomania,' what is known to be the first recorded incident of an economic bubble, that occured in Europe in the 17th Century. We'll need a little background on Jamie Dimon to properly assess his own assessment of Bitcoin and Blockchain technology fairly.
Jamie Dimon is widely known as one of the most effective CEO's in the world of business, previously served on the Board of Directors of the Federal Reserve Bank of New York, and has been named in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. Mr. Dimon is also one of the few bank chief executives to actually become a billionaire through what seemed to be successful financial management, as if claiming the title of CEO of JPMorgan Chase Co. wasn't enough. One could speculate on Mr. Dimon's ego, that it may be relatively large, as he has secured the largest pay package of any bank CEO in the United States. Though if we are to speculate on Mr. Dimon's ego, we cannot forget that it is backed up by an enormous amount of success and respect in the traditional business and banking world.
Please refrain from throwing stones at me, I promise I haven't finished yet.
We can analyze a few quick historical snapshots of Dimon's family to get a better understanding of his mindset. His paternal grandfather was a Greek immigrant who decided to change his family name from Papademetriou to Dimon in an attempt to secure a better first impression in the new world. A French sounding surname would be treated with more respect and...