JPMorgan CEO Jamie Dimon once again criticized digital assets, calling the first cryptocurrency worthless.
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“There are cryptocurrencies that do something, that might have value. And then there’s one that does nothing, I call it pet rock. The #Bitcoinor something like that,” says @JPMorgan CEO Jamie Dimon. “It has some use cases. Everything else is people trading among themselves.” pic.twitter.com/EnUBuIEHkI
— Squawk Box (@SquawkCNBC) January 17, 2024
“There are cryptocurrencies that do something and have value. And there are cryptocurrencies that do nothing, I call them “pet stones”. This is Bitcoin and other similar assets,” he said.
Dimon noted that he did not want to limit the freedom of others to use the first cryptocurrency, but personally advised “not to interfere.”
In his opinion, the only uses for Bitcoin are “money laundering, fraud, human trafficking and tax evasion.” However, he expressed support for projects that are engaged in tokenization of real assets.
When asked about the involvement of financial giants like Fidelity and BlackRock in bitcoin trading through spot ETFs, the head of JPMorgan replied that he “doesn’t care.” At the same time, previously BlackRock indicated company as one of the “authorized participants” of its iShares Bitcoin ETF (IBIT).
After a conversation with reporters, Dimon promised never to touch on the topic of Bitcoin on air again.
The JPMorgan CEO has always been a vocal opponent of digital assets. In October 2021, he said that Bitcoin was “worth nothing” and noted the unpopularity of his opinion. He later called cryptocurrencies “decentralized Ponzi schemes.”
In January 2023, Dimon questioned the Bitcoin supply limit of 21 million coins.
Let us recall that in December, a top manager at a meeting with US legislators announced the need to introduce serious restrictions on digital assets, calling for their “closure.”
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2024-01-18 10:07:30
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