JPMorgan CEO Jamie Dimon in contrast Bitcoin to smoking in a current interview, stating he doesn’t condone it. Nonetheless, he says he isn’t in opposition to cryptocurrency as a complete.
In an interview with CBS Information on Jan. 12, Dimon has reiterated his stance on Bitcoin (BTC) and cryptocurrency as a complete. Talking to Lesley Stahl, he claims that he’s “not against crypto” however he nonetheless believes that Bitcoin has no intrinsic worth.
In actual fact, he in contrast individuals who use Bitcoin to people who smoke. Dimon acknowledges their proper to commerce Bitcoin, however he believes they need to not maintain it.
“So, I just don’t feel great about Bitcoin. I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke,” stated Dimon.
Furthermore, Jamie Dimon declared that he views Bitcoin as a foreign money primarily used to facilitate prison actions resembling cash laundering, intercourse trafficking and as fee for ransomware. The JPMorgan CEO’s current statements point out that although Dimon has softened in direction of crypto, his stance on Bitcoin particularly has not modified.
Despite the fact that a report by Crypto ISAC discovered that money stays the popular fee software for illicit exercise. Out of the whole quantity of estimated prison transactions, solely 0.34% of the transaction quantity consists of cryptocurrencies. As well as, the U.S. Treasury additionally confirmed that money continues to be the first methodology for cash laundering attributable to its nameless and steady nature.
In July 2024, Jamie Dimon was rumored to be Trump’s decide for Secretary of Treasury when he was working for president. Many merchants on the time have been fearful that Dimon’s harsh stance on Bitcoin might spell out the tip of crypto within the U.S.
Jamie Dimon’s previous sentiments on Bitcoin
Prior to now, Jamie Dimon has known as Bitcoin a “fraud” foreign money, believing it to be a channel for tax evasion, criminals and drug traffickers. At one level, Dimon even stated that he would shut down Bitcoin if he have been serving as the federal government.
Dimon has been vocal about his opposition in direction of Bitcoin since as early as 2014. In 2014, Dimon stated Bitcoin was a “terrible store of value,” arguing that it could possibly be simply replicated “over and over” and lacked the legitimacy of government-backed currencies.
He even stated that he would fireplace JPMorgan merchants in the event that they have been discovered to be shopping for and promoting Bitcoin. Although in March 2024, he claimed that he can be keen to assist a person’s proper to buy Bitcoin.
Regardless of his robust opposition in direction of Bitcoin, Dimon does nonetheless assist blockchain expertise, praising it on a number of events. Much more astounding is the truth that Dimon’s financial institution, JPMorgan Chase, is a licensed participant of BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Belief.
