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Jamie Dimon Bashes Bitcoin Again: 'A Pet Rock'
The JPMorgan CEO said this will be the last time he airs his opinion on bitcoin.
Updated Mar 9, 2024, 1:47 a.m. Published Jan 17, 2024, 3:55 p.m.
JPMorgan CEO Jamie Dimon took another opportunity to publicly air his criticism about Bitcoin [BTC], saying his personal advice is to not get involved.
The use cases for Bitcoin are “AML, fraud, sex trafficking and tax avoidance,” said Dimon, holding court Wednesday on CNBC from Davos. "I defend your right to do Bitcoin," continued Dimon, who one month ago in Congressional testimony urged Senator Elizabeth Warren to "close it down."
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"I don't want to tell you what to do," added Dimon this morning. "My personal advice is don't get involved."
He also said the cryptocurrency is like a “pet rock” that “does nothing."
Read more: JPMorgan CEO's Bitcoin Bashing Is a 'Do as I Say, Not as I Do' Situation
Dimon appeared to be constructive on cryptos outside of Bitcoin, noting there are many folks can “do something with" such as tokenization of real-world assets.
Asked about asset management giants like Fidelity and BlackRock getting involved with Bitcoin via spot ETFs, Dimon responded that he “doesn’t care,” and promised this will be the last time he speaks about bitcoin.
While Dimon says he may not care about the spot ETFs, JPMorgan is notably playing a key role for BlackRock's iShares Bitcoin ETF (IBIT) as one of the fund's authorized participants.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
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- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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