JPMorgan CEO Jamie Dimon said he would “fire in a second” anyone caught trading Bitcoin when it was at $4,000.

Jamie Dimon, the general director of JPMorgan Chase & Co (NYSE:JPM), is known for his no-holds-barred attacks on Bitcoin (CRYPTO: BTC), despite the banking giant’s investments in exchange-traded funds tied to the leading cryptocurrency.

What happened: Speaking at an investor conference nearly seven years ago, Dimon called Bitcoin a “fraud” and “worse than tulip bulbs,” referring to the 17th-century Dutch tulip mania.

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The remark that gained the most notoriety was when he said he would “shoot in a second” any JPMorgan trader caught trading Bitcoin.

When Dimon made these remarks, one Bitcoin was priced at $4,161.27. Today, the price of the coin rose to $57,926, indicating a massive increase of 1,292%.

Why it matters: Dimon’s criticism of Bitcoin has continued unabated, going so far as to call for the industry to be shut down during congressional testimony last December.

However, its position softened remarkably just a month later when the first Bitcoin ETFs saw the light of day. Dimon said, “I’m defending your right to make Bitcoin.”

According to its recent SEC filing, JPMorgan reported holdings worth $42,000 in the stock. Grayscale Bitcoin Trust (NYSE:GBTC). It also liquidated its entire portfolio in iShares Bitcoin Trust ETF (NASDAQ:IBIT) which was acquired in the first quarter.

Price action: At the time of writing, Bitcoin was exchanging hands at $57,947.66, up 2.50% in the past 24 hours, according to data from Benzinga Pro. Shares of JPMorgan closed 0.78% higher at $207.17 during the regular trading session on Thursday.

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This article JPMorgan CEO Jamie Dimon said he would “fire in a second” anyone caught trading Bitcoin when it was at $4,000. originally appeared on Benzinga.com

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