JPMorgan CEO Compares Bitcoin to Smoking
Date: 2025-01-14 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
In an interview with CBS News, JPMorgan CEO Jamie Dimon said he does not share the enthusiasm around Bitcoin, despite the growing acceptance of digital assets. He emphasized that he sees the potential for a global digital currency, but remains extremely skeptical about BTC.
According to Dimon, Bitcoin has no intrinsic value and is often used for illegal activities such as money laundering, human trafficking, and ransomware cyberattacks. At the same time, he emphasized that he is not against the concept of cryptocurrencies in general.
“Sooner or later, we will see the emergence of a full-fledged digital currency. I am not against crypto assets per se, but Bitcoin has no intrinsic value. It is often used for illegal activities,” Dimon said.
He also compared buying Bitcoin to smoking: “You have the right to buy it, just like you have the right to smoke, but that doesn’t mean it’s a good idea.”
Despite his criticism of Bitcoin, Dimon praises the potential of blockchain. He emphasized that JPMorgan is actively using this technology, which can change the way data and money are transferred.
“Blockchain is a real technology. It is effective and will be used to move money and data. We have been talking about this for over a decade,” he noted.
Interestingly, despite Dimon’s negative attitude towards Bitcoin, JPMorgan is actively involved in the crypto industry. The company has already invested in spot exchange-traded funds based on Bitcoin, which indicates recognition of the potential of digital assets.
Earlier, former US President Donald Trump suggested that Dimon could soften his stance on Bitcoin. However, the latest comments from the head of JPMorgan confirm that his point of view remains unchanged.
Thus, Jamie Dimon continues to criticize Bitcoin, focusing on its shortcomings, but at the same time recognizes the importance of blockchain technologies and their impact on the financial industry.
