we encourage jamie dimon to personally bet against this, take jp morgan's balance sheet.e will see what happens. but now they can do it instead of throwing stones. maria: tyler coming by to explain this because people are wondering what bitcoin is backed by. the dollar is backed by the full faith of the treasury and the u.s. government. what is bitcoin backside? the mac great question. we think of bitcoin is gold. some people point to an intrinsic bow you a bold but that doesn't explain the value. an unexplained 10% from a 15% of the valley of gold. gold has value because we all agree it has value as well except gold and it has a collective acceptance and value that way. bitcoin in addition to being increasingly accepted around the world and more people come into the system by the day has the mining network which is one of the largest in the world backed by cryptography. a lot of people look at the u.s. dollar or government backed currencies and say a the government has counterparty rest. the average lifespan of a currency is roughly 27 years. look no further than the zim

same way >>> we are awaiting jamie dimon, speaking at a conference in michigan also, waiting for janet yellen, speaking after the fed's decision we are waiting for the congressional conferees. we are waiting for a lot a lot to look forward to here on "power lunch."

jamie dimon's report a brilliant analysis of the world. on the other side, they had an electric that's around them for about 10 years. that is changing. greatre in fundamentally shape. for another year or two, they will be terrific. at some point, the yield curve will rise for other reasons. what is jamie dimon going to buy? state street? tom: give us an answer. a small bank in sioux falls? >> why go through the regulatory hassle of buying country banks? everybody is going to flee new york. tom: this is not fair. he always gives eight names so he can push the stock up. >> we own a lot of banks in florida, georgia, north carolina, south carolina because those are where the money is going to flow. why? health reasons or tax financial health reasons? the tax rules will change. and behaviors. tom: i don't care what you think about senator corker and senator rubio and the rest of the senators. i want to know what happens to the financial system the day the president signs the bill. >> assuming he will sign next week, small companies will receiv

if jamie dimon is right, he spoke today, if janet yellen is right, she spoke today, companies will be making more money than they otherwise would have made in addition to the current valuation concern. or applause, i should say. you end up with a situation where you get a bump and then a further bump. jamie dimon referred to the fact that companies now can pay out more in wages, they can buy other companies, they can do lots of things, raise dividends, do stock buybacks. if those things happen, you could get the virtuous cycle of things getting better and feeding on themselves. we've seen the other side, which goes in the other direction. so you actually could get a phillip from this that lasts for a few years, that's possible. >> that sounds very good for companies and shareholders. do you think this bill, i know this isn't really what you do, but is this good for the economy? >> if you end up, tyler, with people getting higher wages, the answer, in a simplistic way of looking at it, the answer is yes. people will have more money to buy more things and the economy could end up with a

. >>> jpmorgan chase's jamie dimon no stranger to headlines and likery to make more in the next halfpeaks at the wells fargo thought leadership conference. we'll get a preview and see some of the day's highlights next. >>> plus as i mentioned earlier the deal between fox and disney reportedly is back on track, at least the talks are. her di up we'll look at what otmea deals may also be in the wings. stay tuned >>> superstar investors leon cooperman and mark lazry were some of the names attending that wells fargo securities investment thought leadership to forrm forum in new york city that fit all on one marquee. scott wapner was there and joins us with the highlights >> reporter: it is a big marquee, would have to be one to get all the names on here. thank you. been a good day here the headline of all the investors i spoke to today is this rally isn't over. the only question remains how long are stocks going to continue to run? we did catch up with mark lazry, chairman and ceo of avenue capital. interestingly enough, he was on the network almost one year ago to the day the dow was at

. >> i feel like was it jamie dimon who said he'd fire anybody -- >> he called it a fraud.e's speaking later today, by the way. i wonder if he'll double down on that. >> i don't know about bitcoin but he's a man worth listening to he's got a good feel for the economy and a very intelligent guy. >> when you see something like bitcoin with a straight line up, that doesn't make you feel like if there's a sign of euphoria, is that it or is it its own individual thing >> there's euphoria in bitcoin there's euphoria in a sense in bunds at 38 basis points, but the broad market i don't think is evidence of euphoria. i went through numbers in the conference, i spoke this morning at the wells fargo conference, and they asked about the technology bubble, whether it's comparable to 2000 in 2000, cisco was like 100 times free cash flow oracle the same thing relative to growth rates, that's low, that's low. the main threat to these companies, they're gaining market share and strength every day is government. >> you don't own amazon, right >> i do. i listen to my analyst john wolf, i'd be

visit saveonsymbicort.com today to learn more. >>> jpmorgan ceo jamie dimon spoke in new york city a moments ago. wilfred frost has more >> reporter: he said there was slack remaining in the u.s. and global economy, and that here in the u.s. credit is not a concern. mortgages, he said, are more pristine than ever since 2009. credit cards the only area looking to have a little bit of concern, perhaps this was a broader legacy type conversation as opposed to a quarterly earnings focus, going from all topics, including the issue of sexual harassment in the workplace. he was asked what advice in light of that that he gives to his daughters. it was a very firm response. he said be prepared, be willing to fight back. and he went on to say, what kills me about some of these stories, by the way, are these men, not only do they get away with this all along but there are a lot of men in this room, if we found out he did it to our wife or daughter he wouldn't be alive. i'm shocked there hasn't been murders over this type of thing and i think they prey on the young. he was asked if he's a femini

still ahead on the year in conversation, a discussion with jamie dimon about the future of reform inhina. >> you can predict the future. was another year of unconventional monetary policy in japan. up next, haruhiko kuroda gives some reasons he is still standing fast on stimulus. good, but i don't think the growth can be maintained. >> this is bloomberg. ♪ ♪ >> this is "bloomberg best," i am rishaad salamat. with shinzo cementing his parliamentary majority in the snap election, 2017 includes a hopeful note for the program abenomics, and haruhiko kuroda has confirmed his commitment to accommodate monetary policy. but with geopolitical risk rising in the yen strengthening, the course wasn't so certain. concernsdressed those in an exclusive interview with francine lacqua. a very difficult issue, certainly in the past whenever we had some geopolitical risks rising, yen policyated, making our even more difficult. but at this stage, i don't know. can move depending on many factors, not just geopolitical risk, but other developments. i can't say anything about the exchange rate, the movemen

jamie dimon says one thing. janet yellen says another. >> undoubtedly some job creation.ainly some economic growth. we are in the process right now and something we've been waiting for seven years and actively for 30 years in the history of the country to see what happens when we have tax reform and we are seeing the handover for monetary policy to fiscal policy. it's not as though we've got a good playbook but it's happening in real time. you're going to have a new fed chair is a graduate and consistent the lanes were in the direction of the lighter regulatory touch probably a positive. the one thing the fed should be talking about more if they went through an entire pressure called and 17 reporters, saying are you concerned about the flattening yield curve in janet yellen passed on now. sort of gave it away. keep an eye on the yield curve. doing a great job in the text, on a lot of growth. train to the press conference will be a little bit dry, but it was nice to your finish out her tenure and move on to the next chief next year. art hogan, thank you, art. tranter with

still ahead on the year in conversation, a discussion with jamie dimon about the future of reform inna. >> you can predict the future. 20 years ago much easier than you can predict the next 12 months. rishaad: and 2017 was another year of unconventional monetary policy in japan. up next, the bank of japan governor haruhiko kuroda gives some reasons he is still standing fast on stimulus. good, but i do not think 4% growth can be maintained. rishaad: this is bloomberg. ♪ ♪ rishaad: this is "bloomberg best," i am rishaad salamat. with prime minister shinzo abe cementing his parliamentary majority in the snap election, 27 concludes on a hopeful note for the program known as abenomics, and haruhiko kuroda has confirmed his commitment to accommodate monetary policy. earlier this year with , geopolitical risk rising and the yen strengthening, the course wasn't so certain. kuroda addressed those concerns in an exclusive interview with francine lacqua. >> this is, again, a difficult issue. certainly in the past whenever we had some geopolitical risks rising, yen appreciated, making our policy

jamie dimon saying this is a complete fraud.: four years ago, when i said it had some potential, it is a $250 billion market cap, so i think people have come to the conclusion bitcoin is here to stay. it really is global. intalk about the appearance silicon valley, but it is happening in japan, korea, argentina. the u.s. is the third-largest .rading market for bitcoin it is really a global phenomenon. you have other exchanges around the world offering the same type of product, so it really is here to stay actually. emily: 2018 will be the year of what when it comes to cryptocurrency? cory: i would not have predicted 2017 would be the year sexual harassment finally came out of the dark, so who knows what to predict for next year? what he said that was so interesting is it allows companies to use bitcoin to pay for things and they do not have to get involved, but financial markets will be able to trade bitcoin and a fully transparent way with all kinds of protections that most trading of other things has, so we will see starting m

within his first 100 days, francine lacqua sat down with chase ceo jamie dimon.ir conversation after the air of anticipation for investors. >> what does president trump and his registration going to do for the u.s. economy? >> look at the policies. look at the people on the ground. they are top professionals in the military, secretary of state, secretary of treasury, serious people with deep knowledge and experience. there admission is to have a growth agenda, reducing corporate taxes, building better infrastructure we definitely need, reducing the regulatory regime that will hold back growth. it's good for all americans. middle-class, low pay, job creation. it's a jumped more than it has ever jumped because of the progrowth agenda. >> give any doubt he will follow through? >> the republicans have a house, they have the senate, they have 30 plus in the governorships. they have a better chance of getting those things done. i don't have an exact timetable. they have to recover from positive growth and pro-business is there, but i'm -- remember, wantsmocrats -- ever

it was on the minds of global leaders like jamie dimon shared his concerns at davos.he things i worry about brexit, the effect on britain and the gdp in the u.k., it is about what it says for the long-term health in europe. the wishful thinking, that brexit would cause the european union to look at what went wrong and fix it. what went wrong has gone wrong for everybody, not just britain. it looks like they are doubling down. ineurope is not fixing response to brexit? power goes to brussels, how much inflexibility and capital you will have. i am hoping they do it. the eurozone may not survive. that is a complex answer. it is a long-term pessimistic view. unless they change. they are going to have to change to be more competitive globally. they are doing ok right now. i say this out of respect for the european people. they are going to have to change. it may be forced by politics or leadership, we will have to see. emmanuel macron's victory was a encouraging sign of strength. while far right parties did make gains, they help swing the momentum back. >> i am a firm beli

>>> we continue to watch the price action in bitcoin this morning as we get fresh comments from jamie dimonfred frost is back at hq with those remarks. >> so, remember back on the 12th of september when bitcoin was around 4,200, jamie dimon said it was a fraud and worse than tulip bulbs. a month later at 5,600 he reiterated his bearishness >> if you're stupid enough to buy it, you'll pay the price for it one day governments, this is technology statement, government also crush it. he remains skeptical of it as i've said previously, i'm open minded to uses of cryptocurrencies if properly controlled and regulated on september 12th, dimon said he wouldn't short bitcoin because it could rise to as much as 100,000 before you feeyou -- he it which collapse. >>> wildfires continued to burn across southern california aditi roy has the latest >> we've been in this neighborhood in ventura all morning long we've seen home after home razed. this car and truck gutted this is a garage door here. it's just warped back there, a washer and dryer charred almost beyond recognition. the numbers showing the dest

so you have jamie dimon from jpmorgan chase saying, bitcoin is a fraud. will fire anybody who trades in bitcoin. that is one point of view which is draconian. trish: he is a smart guy. >> he is a pretty smart guy. it is also cynically worth pointing out jpmorgan chase is the worlds largest currency dealer. if bitcoin grows up, i'm sure that is not what jamie dimon is worried about, if bitcoin grows up to a be a full-fledged adult it would threaten margins of jpmorgan chase. trish: okay. >> some are more nuanced, morgan stanley, french bank socgen says they will see. goldman sachs is only bank that came out and said on case-by-case basis we will process these trades. >> one of the amazing opportunities is really the technology. what bitcoin should enable people to do is transfer money very quickly, very efficiently at a very low cost. that said,. >> that's why libertarians love it. senator paul, is the only member of congress to be at a bitcoin conferences something like five years ago, he is like this is great. there is no central bank. there is no fed. t

remember back on september 12th, when bitcoin was below 4,200, jamie dimon called it a fraud.r 13th, the price around 1,5,600, he reiterated -- >> if you're stupid enough to buy, you'll pay the price one day. governments, this is not a technological statement, governments are going to crush it one day >> good to have you here. >> thank you >> the big event this weekend, futures, starting to trade on sunday, we talk the about whether that adds legitimacy, is it going to increase volatility in bitcoin, reduce it, what are your thoughts about this moment? is it important? >> it is really important. >> why >> it's important because obviously it does add legitimacy having a big exchange recognize it as an asset to trade. that's great on the downside, there's never been an easy way to short bitcoin. so most of the hacks that you've seen over the years, wallets, exchanges, whatever, have been to push bitcoin's price down temp raoraril temporarily, buy some of them profit on the rebound. you have a sustainable way to short it my worry is over the next week or two, we're going to see a

legendary investor warren buffett warns it will go bust and jamie dimon of jpmorgan chase says it meansre the buyer. but erik finman has faith. >> you're the youngest bitcoin millionaire? >> it feels pretty bad. >> reporter: at age 12 he earned a $1,000 gift from his grandmother. >> every 30 minutes i check the bitcoin price. >> reporter: despite its recent popularity, we're not at the point where bitcoin is used in day-to-day transactions. as enticing as it can be, it's not the thing for everybody. if you can't stomach a volatile market, it's best to take it slow. bianna golodryga, cbs news, new york. >>> on "cbs this morning," airbnb customers are reportedly finding hidden cameras set up in their rental home. we'll get the reaction. >>> plus fake makeup found online and street corners can have real health consequences for customers. cbs purchased them and sent them to the lab. ahead, what we found. >>> that's the "cbs morning news" for this wednesday. thanks for watching. i'm anne-marie green. i'm anne-marie green. have a great day. -- captions by vitac -- www.vitac.com >>> it is hard

morgan ceo jamie dimon called bitcoin a, quote, fraud, last september last night he told cnbc, quote, open minded to uses of crypt currency properly controlled and regulated, however, he says, i remain highly skeptical. jon najarian returned from a bitcoin road show of sorts in europe he's back ahead of bitcoin futures trading which begins next week. there was bitcoin involved this weekend? that's not how your instagram looked, doc? >> yeah. there was a whole lot of red lines there -- >> i got it, i got it, i got it. >> exactly you can buy it with bitcoin overseas by the way, judge, jamie is a friend j.p. morgan is working on all kinds of technology they look to be along with microsoft and ibm perhaps some of the biggest people supporting block chain so even though jamie talks negatively at least some of the time against bitcoin, he is very positive on block chain and they have a huge initiative there, ibm, ak censure, j.p. morgan, this is like a gold rush for microsoft in block chain. >> why aren't you giving an idea of what the conversation was like all throughout europe where you w

way it's putting feet of money out of business and the bankers on wall street are running scared jamie dimon is literally you know peeing in his pants at this point because you know he's going to be out of a job in five years we don't need the jamie diamond of the world ripping us off we don't need wells fargo stealing money. out of accounts we don't really just b.c. funding drug lords in mexico to the tune of billions of dollars we don't need those bad actors in society and big going gets rid of all those financial terrorists and it's about time somebody stood up and did battle because the government's not doing it the academics are doing it so we have big going to do it. i've got some breaking news for you from new york one person's been killed and at least three others injured after a car was allegedly driven deliberately into them in the street it happened in the queens area of new york police are still searching for the driver of that vehicle at the moment police say that this crash is not believed to be terror related but of course it's just a month after a rather driving incident kill

you mentioned jamie dimon fraud.e people involved in it now are reluctantly getting involved, whether it is interactive brokers or any major firm. rob: we are at an amazing point in history, scarlet, because after the financial crisis, bitcoin was created as a response to lack of trust in governments, financial now ittions, banks, and has come full circle, and the financial institutions want to get involved. it,rnments want to regulate or they may not want to, but they have to regulate it, so i can understand why it is a conflicted situation. it's also a great story. scarlet: what kind of feedback do you get from readers to the stories you write? are people bewildered by it and want to know more, or are they nitpicking with you? i'm usedicking is what to. this is not nitpicking. these are existential questions only. it's are people who say complete fraud, and there are people who say it is going to save the planet, and almost no one in the middle. journalistically, i can't think of a story i've had that was like that

legendary investor warren buffet warns it will go bust, and jamie dimon, c.e.o.f jpmorgan chase, warns the lack of regulations means investors are playing with fire. >> this may be the biggest bubble that we've ever seen. >> trevor: wow. you know it's messed up when wall street is like, "yo, pump your brakes. pump your brakes. this is some sketchy (bleep) right here, man. where's the regulation? we need regulation! come on!" and by the way, bitcoin is just the beginning. there are thousands of these cryptocurrencies popping up. and jockeying for position. and so we sent our very own ronny chieng to find out more about them. >> cryptocurrency is this some (bleep). on the internet to steal our money. or is this the future of finance? there is no way all these people buying cryptocurrency have any idea what the hell they're buying. and it's not just bicoin. ethereum, the number two cryptocurrency, has risen 5,000% since the start of this year. why? >> if you imagine bitcoin as being a gold coin, ethereum is a join that has a magic spell on it. >> what the hell does

your intestines and it's up to your energy yeah it's like an jamie diamond live in your intestines jamie dimon attaining oh yes he's a parasite he lives in the intestines of the american financial system depriving him of vitality that's my big point was invented to kill the jamie diamonds of the world now we've got people who are their intestines are infiltrated and infected with caris sites like little jamie diamonds running around the intestines and they're lethargic they can't work in a good multigenerational and you've got a whole new generation of the walking dead the walking zombies so that a few corporations can build rockets of to mars because it just raises a lot of buy real estate on mars so that he can buy a solid twenty four karat gold toilet bowl but he can take care of his physical matter with a gold until it bore so people alabama got to eat each other's legal matter and died but why because this guy's a thai radical anti american creep now what did we have to report of here on this network was rachel maddow talking about it was an innocent b.c. talking about because j.p. morgan

morgan jamie dimon speaking at axios.awaiting the fed interest rate announcement, janet yellen's final and let's bring in david kelley, and scott mieger, guggenheim partners global chief investment officer. welcome to you all this is a fed meeting where everyone is expecting the same thing, but what could be the risk that could come about in the news conference. >> i think the big thing we're going to be looking for is some comment about inflation, meaning there's been a lot of discussion that maybe what they've thought is transient is more permanent and to see whether there's any comment that gives a nod to their concern about this because this could have a big impact on the new chair that's coming in next year. >> and if it is more permanent, does that mean, in your view that they remain dovish or that they go hawkish even with this low inflation environment? >> i think if they think it's more permanent, i think it might give them some feeling that they have leeway to slow down on rate increases, and i think that there'

legendary investor warren buffet warns it will go bust, and jamie dimon, c.e.o. of jp morgan chase, warns the lack of regulations means investors are playing with fire. >> if you're stupid enough to buy it, you'll pay the price for it one day. >> reporter: but 19-year-old erik finman has faith. so you are the youngest bitcoin millionaire. >> uh-huh. >> reporter: how does that feel? >> it feels pretty great. not too bad for 19. >> reporter: at age 12 he invested a $1,000 gift from his grandmother. >> i checked the bitcoin price every 30 minutes. >> reporter: every 30 minutes. now, despite its recent >> i check every 30 minutes i check the bitcoin price. >> reporter: every >> reporter: every 30 minutes. now, despite its recent popularity, we are not yet at the point where bitcoin is widely used in day-to-day transactions. and as enticing as it may be, investing in bitcoin is not for everyone. a good rule of thumb: if you can't stomach a volatile market, jeff, it's good to take it really slow. >> glor: very good rule of thumb. bianna, thank you very much. when we co

to i don't think it's going to poof and it goes to zero that's why i think it's not a fraud like jamie dimon of j.p. morgan has said even vladimir putin has said it's like a pyramid scheme i wrote a book on permits keep not a classic pyramid scheme that doesn't mean there's not inherent risk and so just be careful as might my advice to folks and we still don't know who actually invented. no no that is a suited him that you know that that adds credibility to the whole thing right. that was arrested by the way for. having this online exchange to sell these drugs human trafficking you know his pseudonym was dread pirate robert levy is in jail for life so another confidence booster. to get into and i think in the future it's going to take a lot of us to sort of bridge that gap between the training and everything but i hope people don't as good a discovered i know it's sort of a weird subject in the financial sector but it but people need to know about it they need to connect themselves thank you so much for coming out of talk about this with thanks guys thanks for what you do. throughout history

something it's going to get some proof and it goes to zero that's why i think it's not a fraud like jamie dimon of j.p. morgan is even vladimir putin it's like a pyramid scheme i wrote a book on permits keep not a classic speech that doesn't mean there's not inherent risk and so just be careful as might my advice to folks and we still don't know who actually invented but no no . it is a suited him that you know that that adds credibility to the thing. that was arrested by the way for. having this online exchange to sell these drugs human trafficking you know his student him was dread pirate robert levy is in jail for life so another confidence booster. to get into and i think in the fisher it's going to take a lot of us to sort of bridge that gap between the trading and everything but i hope people don't as good a discovered i know it's sort of a weird subject in the financial sector but but people need to know about it they need to connect themselves thank you so much for coming out of dark about this with thanks guys thanks for what you do. throughout history some of our greatest playwrights

completely free architected to be in the image of the block chain and because the cryptocurrency is jamie dimon will be looking for a new job lloyd blankfein will be you know doing some kind of remedial job somewhere pushing a broom you know that really will change pole dancing to the pole dancing at your local strip bar well i will offer a price prediction that's what i'm going to do so we saw the end of twenty seventeen davinci discovered eventually that had been undiscovered for a couple hundred years well it sold to the crown prince of saudi arabia for three bitcoin pizza's remember back in twenty eleven somebody bought two pizzas for ten thousand bitcoin that ended up being worth about one hundred forty million dollars at the time the news emerged that the crown prince of saudi arabia had bought had but the defense for four hundred fifty million dollars so three big coin pizzas. i predict that the price of bitcoin will hit to basically two thirds of a davinci really for them. as phenomenal. good things and it's fungible you could always eat a feast but that is total decadence aka the saudi

on and i just angers me just think that there's still jamie dimon still breathing oxygen on this in this world the serial terrorist like that and i let me move on so you assess identify. as a cypherpunk what is this all about so the cypherpunks of the origin of the movement really goes back to the eighty's a bunch of nerds who they saw the promise of the internet in these new communications technologies but they also saw the dark side they they saw what could happen as you know surveillance state comes in and uses these technologies for evil basically so they wanted to build privacy and hansing technologies into the internet itself on top of the internet protocols and it just so happened that you know digital money was one of those very interesting things that the cypherpunks thought was important for society to have and the number of cypherpunks worked on it for decades and it wasn't until two thousand and nine that you know suppose she came along and actually had an elegant solution there were many many attempts and failed solutions that happened before because there are an estimated f

jpmorgan and ceo jamie dimon weighed in yesterday. while the corporate side would not be immediate, an overhaul is long overdue. here's what he said. >> is simply needs to be done. it should have been done 50 years ago. the counterfactual would've been how much better maybe you've been had we had a competitive system verse will be had. maria: again, the corporate rate is supposed to mean the to mean the big two of this plane. >> you know what the real goal of this plan is. it is growth. when you look at where can we make sure we leave the last eight years of this legacy of sub optimal 2% growth behind. that is making sure we make our businesses more competitive so they can reinvest in the country, give workers a pay raise comics and operations domestically. you cannot call this anything but tax reform. we are changing the entire system by which we operate on the business side. a worldwide to a territorial come in getting rid of deductions on both sides. special interest loopholes are absolutely focused on cutting rates across the boar

have people like jamie dimon who say we will fire anyone who trades bitcoin.nnot really ignore it. all their clients are asking for it. but they have to worry about reputational risk or customer rules. coinbase realizes that and they are offering products to try to solve that problem. carol: i think they need regulatory oversight to be legit. i assume they expect that. do they want that? >> coinbase has had a pretty friendly attitude toward regulators. the way they are currently regulated is a patchwork system through states. they have money transmitter licenses in 38 or 40 states, and they are federally regulated. but not by the big traditional financial regulators you think about. we may see that happen at some point. carol: "bloomberg businessweek" is available on newsstands now. julia: and online at businessweek.com. #metoo us felt for the story. carol: she talked about how we are seeing cultural institutions and how they are changing how they approach women's issues. i think that is good they are doing this. we are seeing slight changes. julia: and yet sh

people like jamie dimon and say it is a bubble waiting to burst. >> his whole life he is totally controllingt cash. do you think he's going to say bitcoin is a good thing? it should scare him. he is seeing people take money out of his bank and put it into coin base. of course he is going to say that stuff. you have to look at who is the messenger. >> there are a lot of people who are worried that because of its volatility that it is not a great store of value the way it is being touted. do you think they have a point? >> i would say volatility against what? people ask me if i'm going to sell my bitcoin. into what? it's like taking gold and turning it into shells again. we know the future of currency will be this kind of currency, a cryptocurrency. there is no reason to go back in time to fiat when you can move forward and say this is the new currency of the future. the volatility is the panic in the other currencies saying wait, this is a better way for all of us to do commerce. this is a better currency. so why are we in this old currency? so they will bounce around relative to the cryptocu

su: we know the jamie dimon was one of the first major six, he is been calling it out a long time. rally has proved him wrong. many banks share the concern about bitcoin. it's talking about, how does the six exchange work? not see people rush in, the professional investors are different in the way they take positions in the information they need to do so. however, there are those who are officially going on record saying it is a bubble. let's take a listen to this governor on his view. >> it looks remarkably like a bubble forming to me. we have seen them in the past over the centuries, we have seen bubbles, and this appears to be a classic case. , with a bubble you don't know how far it will go up before it comes down. su: let's go back into the bloomberg, 1057, volatility is a big question. if you're trading on the futures exchange, there will be curves, and they will stop trading. going into the future, this chart shows that bitcoin positivey would trend and future contracts. if you look at the volatility we have seen recently, each time it spiked, it would halt trading. the good

james: i am not going to be jamie dimon -- alix: no one can be jamie dimon.mie may ultimately be right. there's the old saying, there is no there there. there is nobody acting it out. -- acting it up. there's just -- backing it up. there's just a network of computers. maybe one day we will see the emperor has no clothes. i am not good to put up money to bet against it, nor am i going to vote for it. alix: this is one of my favorites. the idea i can say hi alexa, where should i put my 401(k)? if she can give me an answer, that will freak me out. fascinating. this is a big theme we are seeing which is where is tech going to come in and cause disruption? we have seen amazon and they have done with it did to grocery. there is this fear that they come in, some of like amazon, they come into the money management world is a complete change the paradigm. one of things this piece goes into is because these are heavily regulated industries, it is harder. they are done more overseas where there is less regulation. alibaba apparently they launched their own money market

it was on the minds of global leaders like jamie dimon who shared his concerns at davos. >> one of theabout brexit, the effect on britain and the gdp in the u.k., it is about what it says for the long-term health in europe. the wishful thinking, that brexit would cause the european union to look at what went wrong and fix it. what went wrong has gone wrong for everybody, not just britain. it looks like they are doubling down. >> europe is not fixing in response to brexit? >> you have the same political things about immigration, who controls the laws, how much power goes to brussels, how much inflexibility and capital you will have. i am hoping they do it. the eurozone may not survive. that is a complex answer. >> it is a pessimistic view. >> unless they change. they are going to have to change to be more competitive globally. they are doing ok right now. they're growing 1% plus which is ok. i say this out of respect for the european people. they are going to have to change. it may be forced by politics or leadership, we will have to see. ♪ [applause] nejra: emmanuel macron's victory wa

what do you think of people like jimmy diane -- jamie dimon saying it's a fraud?sting. i think there are a lot of assets that are valued based off supply and demand. most stocks, you just have the ability to buy and sell those stocks. i think that going is the same thing. its value is a function of supply and demand. bitcoin is the same thing. i'm also in five -- ivolved -- ipo's, because i think blockchain is a great technology for future applications. it has created multiple great companies. i'm involved in a company that i think is going to change the messaging using blockchain. emily: how big is your stake in bitcoin? mark: relatively small. cory: that was emily chang and mark cuban. bloomberg lp is in partnership produce a global breaking news network. a reminder that we are livestreaming on twitter right now. technology. that's it for now. this is bloomberg. ♪ kong. last one for 2017. for poorlogizing iphone batteries but insists it would never intentionally shorten life. or would like to haler wouldthe ride like to forget. betty: the going recovering after

jamie dimon. nevermind that jpmorgan is also getting into it.here is that accurate i think what is so interesting is will it ever get out of the feeling of it is a scam, speculation, the oldest form of the market, and be able to normalize the market. this concentrated ownership twins --the oghobaase the winkle voss twins on paper, are billionaires. that's made famous by the investment in facebook and their dispute over that. it has seen an extraordinary change in fortunes of early investors. >> i love the statistic that bitcoin has gained 1,000,000%, it is hard to get your head around. but you think about when one big investor starts selling, what happens? >> and when he has a lack of transparency we have currently. you cannot attribute it. we usually do share selloffs when someone needs liquidity, or an m&a deal. >> but there are systems in place. >> we don't know what the underlying motivation is, profit taking, concern, do they know something we don't? that is the issue. >> let's move to the cover story in particular. what happens in a countr

jpmorgan's ceo, jamie dimon weighed in on the tax reform plan yesterday he talked about the ways companiesould use their new-found tax savings. >> on the corporate side, the benefit is not going to be immediate. you do have the reduction of taxes, companies will retain more capital, they'll start to use it over time you will compete away the advantage. some will raise wages, some will buy companies, some may do dif vends and buyback. that's not a good thing. that's their money it gets recircumstanr recirculated into the system >> you think that -- that's what we heard with the low interest rates, buybacks, corporate, you know, shenanigans -- not shenanigans, but -- >> financial engineering >> financial engineering if this continues, these guys will probably do some of that. >> a lot of that >> but they don't have to wore borrow it now. >> good thing with these high interest rates >> no, but they used to borrow it now they have more money to work with in that sense you're not straining. >> jamie's right it's like qe4, additional stimulus comes in >> it's private sector money, not balance sh

you are familiar with jamie dimon's comment, if you are stupid enough to buy bitcoin you will pay thet one day. he called it a fraud do you think this is an opportunity for bitcoin? do you think this is another great investment or is it a fraud? what's your take >> i think with any investment vehicle, any way to express an interest in a commodity, the ability to do so whether it's jamie expressing the short interest or the short side, we have those that are investing in bitcoin each and every day and i think the meeting of those minds in a lit, transparent exchange is what we are trying to bring to the marketplace there's a suitability issue with every investment bitcoin should be no different i don't think we are setting up bitcoin and saying that's for everybody but we certainly know there's interest out there on the long and short side. >> what do you say to jamie dimons of the world who insist it's a fraud give us an opinion on this you are in the middle. >> i think as everyone, on any investment, you can have an opinion on any security, any commodity. if he would like to take the

morgan chase and cbo jamie dimon says u.s.the tax overhaul to be competitive globally. we go through the roundtables recent survey with ceo michael berg later this hour. ♪ david: president trump is