WASHINGTON—JPMorgan CEO Jamie Dimon is perhaps the best example of the type: He thinks bitcoin investors are stupid and that the digital blockchain money “will be closed”—yet his company is developing its own blockchain called Quorum, and it backs a bitcoin competitor called ethereum.
Dimon is not alone. Across established institutions like the big banks, the International Monetary Fund (IMF), and the Federal Reserve, there is a pattern of thinking that goes like this: Bitcoin is bad, but blockchain technology is good.
