J.P. Morgan Chase Chairman and CEO Jamie Dimon is back pedaling a bit on his earlier criticisms on cryptocurrencies.

Dimon said in September bitcoin was a “fraud” but said on Tuesday he regretted making that comment.

“The blockchain is real,” Dimon told Fox Business on Tuesday. “You can have cryptodollars in yen and stuff like that. ICOs… you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”

ICOs stands for initial coin offerings, a controversial way some cyrptocurrency companies are raising funds.

“I’m not interested that much in the subject at all,” Dimon added in the interview.

Along with his earlier bitcoin is a “fraud” statement the executive also blasted digital currency investors last year.

“If you’re stupid enough to buy it, you’ll pay the price for it one day,” he said in response to a moderator question at an Institute of International Finance conference in Oct.

The price of bitcoin declined 1.4 percent to $14,760 Tuesday, according to data from industry website CoinDesk. The digital currency is up more than 1,500 percent in the past 12-months.

Source: Tech CNBC
Jamie Dimon says he regrets calling bitcoin a fraud