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JPMorgan CEO Jamie Dimon Still Thinks Bitcoin Is Useless, Calls Government Regulation Inevitable



JPMorgan Chase CEO Jamie Dimon has stated in the past that he is not a fan of bitcoin and has now reiterated his sentiment on the world’s most popular cryptocurrency, calling it “useless”. Bitcoin’s impressive performance over the past few weeks has silenced many critics, but Dimon strongly disagrees with the cryptocurrency being a serious investment. Dimon also stated that cryptocurrency, as an asset class, will be regulated by governments and that regulation is necessary.

Dimon, who has been a vocal critic of bitcoin in the past, said, “I personally think bitcoin is worthless. But I don’t want to be a spokesperson for it, I don’t care. It doesn’t matter to me.” That said, US The largest bank in the U.S. will offer its customers exposure to bitcoin, Dimon said, while briefly speaking at the annual Institute for International Finance.

“Our customers are adults. They disagree. That’s what makes the market,” Dimon said. “So, if they want to have access to buy bitcoin themselves, we can’t detain it, but we can give them legitimate, as clean, access as possible.”

The CEO of JP Morgan has assured that he no longer has a problem providing investment options to his bitcoin-hungry customers due to the high interest in cryptocurrencies. This appears to be a significant change in Jamie Dimon’s attitude. In 2017, the CEO of JPMorgan Chase claimed that he did not want any of his employees to trade bitcoin, saying that bitcoin was a fraud “worse than a tulip bulb,” and even Earlier this year compared it to “fool’s gold”.

Despite Dimon’s sentiments, JP Morgan began providing access to crypto assets to its wealth management clients in July 2021. The CEO’s remarks also seem to suggest a bullish start to the week for Bitcoin, which is closer to a new record than ever before.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.


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