JPMorgan CEO Jamie Dimon Reiterates Disapproval of Bitcoin, Expresses Support for Blockchain Technology

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ICARO Media Group
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17/01/2024 18h31

In a recent interview with CNBC, CEO of JPMorgan Chase & Co., Jamie Dimon, expressed his disapproval of Bitcoin, stating that he sees no value in the cryptocurrency. Dimon's remarks followed the debut of several Bitcoin exchange-traded funds (ETFs) in the US last week.

"I hope this is the last time I'm talking about this [bitcoin] with CNBC, so help me god," Dimon said during the interview, clearly indicating his fatigue with discussing the topic.

When asked about the recent actions of companies like Fidelity in launching Bitcoin ETFs, Dimon expressed indifference, stating, "I don't care." It is worth noting that Vanguard's decision to not offer Bitcoin ETFs has caused some backlash, with certain customers shifting towards more crypto-friendly competitors like Fidelity.

Dimon reiterated his belief in the potential of blockchain technology, emphasizing its efficiency in moving money and data. He mentioned that certain cryptocurrencies based on blockchains enabling smart contracts may hold value, particularly in the context of real estate transactions and tokenization.

However, Dimon made it clear that he does not consider Bitcoin to fall into this category. While the Bitcoin blockchain does support smart contracts, its functionality remains limited compared to some other blockchains, such as Ethereum.

"My personal advice is don't get involved" in Bitcoin, Dimon cautioned. Nevertheless, he highlighted that he does not wish to impose his opinions on others, acknowledging that it is ultimately an individual's decision.

Dimon's remarks align with his previous criticisms of Bitcoin. He has previously referred to the cryptocurrency as "a hyped-up fraud" and likened it to "a pet rock."

As the debate surrounding cryptocurrencies continues, Dimon's opinion remains firm, with his focus remaining on the potential of blockchain technology rather than Bitcoin itself.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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