You’ve probably noticed that as the cryptocurrency bubble grew and grew, there were prominent financial executives, like JPMorgan Chase Chairman and CEO Jamie Dimon, who were sort of exasperated at being constantly asked why they weren’t jumping headfirst into Bitcoin trading or Ripple custodianship, and so on.

One reason for the exasperation is that bank executives like Dimon have very long memories when it comes to things that annoy them and they all remember very well being (wrongfully, in their view) pilloried for inflating...