15 hours ago
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Jamie Dimon, CEO of JPMorgan Chase, confirms his critical stance towards Bitcoin, once again calling it a “Ponzi scheme.” Although he does not describe himself as opposed to crypto, Dimon argues that BTC lacks intrinsic value and is heavily used by sex traffickers, money launderers, and ransomware.
Jamie Dimon states that Bitcoin has no intrinsic value
In an interview with CBS News, Jamie Dimon, CEO of JPMorgan Chase, reiterated his position against Bitcoin, once again calling it a “Ponzi scheme.”
Here are his words on the leader of the crypto:
“Sooner or later we will have some kind of digital currency. I am not against cryptocurrencies. Bitcoin itself has no intrinsic value. It is heavily used by sex traffickers, money launderers, ransomware. It’s just that I don’t like Bitcoin. I applaud your ability to want to buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke!”.
According to Dimon, therefore, Bitcoin has no intrinsic value and is heavily used by sex traffickers, money launderers, and ransomware.
The CEO of JPMorgan Chase says he is not against crypto, in general, but maintains that BTC is not to his liking.
The statements by Dimon come as the price of BTC has recorded a slip down to $90,000.
Jamie Dimon reiterates his skeptical stance on Bitcoin
This is not the first time that the CEO of JPMorgan has made negative statements about Bitcoin.
Among the most recent, last April, Dimon had said that, according to him, cryptos like Bitcoin are a fraud and have no future as currency. Even on that occasion, he had said that BTC is a “Ponzi scheme”.
In reality, Dimon’s criticisms of Bitcoin date back to 2017, during the full BTC speculative bubble, when the CEO of JPMorgan had threatened to fire his employees caught trading crypto. A few months after this event, he regretted having done so and began to make statements of disinterest towards Bitcoin.
In 2021, then, Dimon had simply stated that Bitcoin did not interest him, while it did interest his clients. For this reason, he would have chosen to offer investment products linked to Bitcoin through his Bank.
In that year, Dimon also went out on a limb, releasing future predictions on the price of Bitcoin. In September 2021, the CEO of JPMorgan reportedly stated that the price of BTC would increase by 10 times in the following 5 years.
Despite this, however, Dimon continued to express disinterest in purchasing the asset.
The slip of the BTC price
At the time of writing, Bitcoin (BTC) is worth $95,127, in a dump of -6% compared to seven days ago.
This week, it seems that the price of BTC has experienced a real slide, which has brought it down from $100,000 to $90,000.
In the last 24 hours, however, it seems that the trading volume of BTC has increased by +144%, the equivalent of 71.47 billion dollars.
The market cap of BTC, closely linked to the price, has also fallen. At the time of writing, BTC holds a market capitalization of 1.880 billion dollars. Last December 18, during ATH times, the market cap of BTC had exceeded 2.100 billion dollars.
English (US) ·