Jamie Dimon, CEO of JPMorgan Chase, has criticised Bitcoin once again. He claims that it is a currency with no intrinsic value. It’s also often abused by bad actors. He also compared Bitcoin with smoking, saying that people have the right, but it doesn’t mean it is a good thing.
Dimon said in a interview on Sunday with CBS News: “We will have some sort of digital currency someday. I’m not anti-crypto. Bitcoin has no intrinsic worth. It is heavily used by sex-traffickers, money-launderers and ransomware. “I just don’t like Bitcoin.”
I applaud your desire to buy or sell. “I think it’s great that you smoke, but don’t you think you should?”
Dimon Advocates Blockchain Solutions While Maintaining a Harsh Position on Bitcoin
Dimon has argued repeatedly that Bitcoin does not have intrinsic value. Dimon believes that it is primarily used to fuel speculation. In the past he called it “fraud,” a “hyped up fraud,” a “pet rock,” or “worthless”. He also compared the bubble to other speculative bubbles, such as the Dutch tulipmania. Dimon warns investors that they will most likely experience negative outcomes.
Dimon, who has criticised cryptography, is a more optimistic view of the blockchain technology. He has acknowledged its practical applications and highlighted JPMorgan’s involvement in blockchain projects such as JPM Coin.
Dimon is not surprised by Trump’s election, and says voters wanted pro-growth policies
Jamie Dimon stated in another section of the interview that he was not surprised by Donald Trump’s victory. He said that voters wanted more pro-business policy. Dimon is cautious despite positive signs such as low unemployment, inflation under control, and a booming market. He says he is “cautiously optimistic” about the outlook of the economy.
“People were angry with the government, which they called swamp. People wanted more growth-oriented and pro-business policy, but they did not want to constantly be lectured on social issues. It’s more the lecturing. It’s a sense of superiority and’my way or the road’. I’ve traveled across the country, I’ve felt it everywhere I went.
