Could Land Expropriations Drive Investors Towards Bitcoin?
Just when you thought you couldn’t dislike Jamie Dimon any more…Just the thought of this angers me…and yes, this could and would drive people towards Bitcoin…
Land Expropriations, Why This Could Drive Investors Towards Bitcoin
“The CEO of banking behemoth JP Morgan, Jamie Dimon, made several controversial statements that could support Bitcoin’s bullish long-term thesis. According to a report from the Telegraph, Dimon claims that the government “should seize private” property to build renewable energy projects…
The banking executive suggested this could be the only way for governments to reach their net zero carbon emissions targets. Dimon added that the window to fight against climate change is “closing.” Thus, the government should apply these desperate measures.
In a letter to investors, the JP Morgan executive said:
Permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.
Dimon used the conflict between Russia and Ukraine as an argument that could justify the government carrying out “eminent domain,” a measure to nationalize property en masse. According to the executive, the war changes how the world “plans for energy security.”
When the conflict between these countries exploded, European countries were hit with higher energy prices. The energy crisis in the old continent led to a series of changes and less dependency on the Russian energy supply.
However, Dimon claims countries should “do more” to protect their energy security against all threats, including climate change. He added:
We need to do more, and we need to do so immediately.”