Bitcoin cloud mining provider, Genesis Mining, has launched a mobile billboard campaign targeted at JP Morgan’s CEO, Jamie Dimon. The new campaign was started in view of the North American Bitcoin Conference taking place in Miami.
The banners, spread throughout the city, mock Dimon’s comments on digital currency, made during an annual meeting of the Institute of International Finance last year.
Dimon warned that “Silicon Vallley is coming” and added that cryptocurrency developers are “coming to eat our lunch. And that’s fine. That’s called competition, and we’ll be competing”.
“Well, Mr Dimon, you’re right. But it’s not just Silicon Valley. Technology is being developed in places like Boston, Israel, and Singapore that are threatening Wall Street’s grip on global finance. Leading that charge is Bitcoin and Blockchain. Big banks like JP Morgan have had a ‘monopoly on money’ for far too long, and for the first time ever, that’s changing,” CEO of Genesis Mining, Marco Streng, wrote in a blog post.
Dimon is known for his negative attitude towards bitcoin. Calling it “a terrible store of value”, he doesn’t believe bitcoin will achieve widespread adoption. The further expansion of digital currency, Dimon says, will be stopped by the government. Although some politicians support innovation, “there will be no currency that gets around government controls.”
The new project is part of Genesis Mining’s bitcoin advocacy campaign, called #ExploreBitcoin, aimed at increasing people’s knowledge on bitcoin. The company believes the digital currency can change the lives of people across the world. However, there are still many of those who are not aware of the bitcoin’s potential. Besides, there a lot of negative comments on bitcoin in the media today.
With the campaign, Genesis Mining intends to raise awareness around digital currency. “The big banks are woefully behind the innovation curve and are only just now beginning to realize it. Many have adopted an antagonist response to the disruptors in their industry, but it’s already too late. Because what they don’t realize is they can’t stop innovation,” the company stated.
“You just can’t stop hundreds of millions of consumers who are fed up with an archaic monetary system that is controlled by a handful of wealthy Wall Streeters.”
“Be ready to compete against hundreds of thousands of hungry young entrepreneurs ready to solve the problems you’ve left untouched for decades. As a kind reminder, we’ve taken out billboards throughout Miami with a message for bankers like Jamie Dimon: Bitcoin is coming to eat your lunch,” Genesis Mining concluded.