JPMorgan CEO Calls Bitcoin a ‘Ponzi Scheme’ With No Value

In a alternatively astonishing connection from the executive, JPMorgan Chase CEO Jamie Dimon precocious called Bitcoin a “Ponzi scheme,” portion sharing his content that the plus has “no intrinsic value” successful a CBS interview. Indeed, Dimon’s caller statements came arsenic BTC has fallen beneath $90,000 successful a alternatively astonishing drop.

Dimon has agelong been a professional of the worth of Bitcoin specifically. Although helium has besides reassured his content successful cryptocurrencies arsenic a concept, helium has not shared the aforesaid religion successful BTC, calling the task thing much than a “pet rock.”

JUST IN: JPMorgan Chase CEO Jamie Dimon says Bitcoin is "a Ponzi scheme" that "has nary intrinsic value."

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JPMorgan CEO Blasts Bitcoin, Calls BTC a “Ponzi Scheme”

It has surely been a monumental 12 months for the cryptocurrency market. Not lone has the plus people thrived, but truthful excessively has Bitcoin. Indeed, the starring crypto by marketplace headdress became the archetypal of its benignant to get an exchange-traded fund. Issued by $11 trillion plus manager BlackRock, its beingness helped propel BTC to a six-figure terms by November of 2024.

That awesome show is expected to proceed this year. However, immoderate experts are inactive refusing to bargain into its occurrence this far. Chief among the skeptics of the token is JPMorgan CEO Jamie Dimon, who precocious called Bitcoin a “Ponzi scheme,” portion saying it lacked immoderate “intrinsic value.”

Source: Chron

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“We are going to person immoderate benignant of integer currency astatine immoderate point. I’m not against crypto,” Dimon told CBS. “You know, Bitcoin itself has nary intrinsic value. It’s utilized heavy by enactment traffickers, wealth launderers, and ransomware. I conscionable don’t consciousness large astir Bitcoin.”

Dimon went connected to say, “I applaud your quality to privation to bargain oregon merchantability it. Just similar I deliberation you person the close to smoke, but I don’t deliberation you should smoke.” As the caput of the world’s largest bank, those words person value but alert successful the look of Bitcoin’s occurrence frankincense far.

The plus people has been increasing nether its presence. It reached heights of $100,000 successful value, with prediction platforms projecting it to deed $120,000 by the extremity of January. It volition surely beryllium absorbing to spot however the presumption JPMorgan is taking volition interaction them. Especially if BTC continues connected its upward trajectory.