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+---- Thread: Jamie Dimon says bitcoin is ‘worthless’ (/thread-3442.html)
Jamie Dimon says bitcoin is ‘worthless’ - superadmin - 10-12-2021
Jamie Dimon, JPMorgan Chase chairman and CEO, isn’t a fan of bitcoin, the largest cryptocurrency by market value.
“I personally think that bitcoin is worthless,” Dimon said during an Institute of International Finance event on Monday, CNBC Pro reported.
But, “I don’t want to be a spokesperson — I don’t care. It makes no difference to me,” he said. “Our clients are adults. They disagree. That’s what makes markets. So, if they want to have access to buy yourself bitcoin, we can’t custody it but we can give them legitimate, as clean as possible, access.”
He’s held true to that statement: In February 2019, JPMorgan said it would roll out a digital currency called JPM Coin, and in October 2020, the firm created a new unit for blockchain projects. In August, it started giving its wealth management clients access to crypto funds, CNBC reported.
For his part, however, Dimon has held firm in his anti-crypto outlook.
Recently, he told Axios CEO Jim VandeHei that bitcoin has “no intrinsic value.” And although he thinks bitcoin will be around long term, “I’ve always believed it’ll be made illegal someplace, like China made it illegal, so I think it’s a little bit of fool’s gold.”
Dimon also told VandeHei that he thinks “regulators are going to regulate the hell out of it.”
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