JPMorgan Chase CEO Jamie Dimon once again expressed skepticism about Bitcoin (BTC), calling it a “Ponzi scheme,” in an interview on Bloomberg TV.
During his interview, Dimon reiterated his long-standing complaint about Bitcoin, saying that it lacks application and legitimacy as a form of money. He described Bitcoin and cryptocurrencies as “just not functional as currencies,” emphasizing his confidence that they are necessarily Ponzi schemes in disguise. as a technological innovation.
However, this is not the first time the CEO has criticized Bitocin. Their skepticism about Bitcoin is well documented. In the past, he had classified Bitcoin as a “fraud” and expressed considerations about its potential to facilitate illegal activities such as money laundering, fraud, and tax evasion due to its anonymity and lack of regulation.
It’s worth noting that despite Dimon’s open complaint about Bitcoin, JPMorgan has been actively involved in the cryptocurrency space.
The bank has served as a legal actor for BlackRock’s Bitcoin spot exchange-traded fund (ETF) and has been involved in several blockchain-based projects over the years.
Furthermore, despite Dimon’s skepticism about Bitcoin, the CEO mentioned the potential price of some facets of blockchain technology, especially those that facilitate smart contracts, and maintained his stance that cryptocurrencies like Bitcoin do not have an inherent price as a currency, echoing his past sentiments. on the matter.
This juxtaposition highlights the banking giant’s nuances in cryptocurrency investments, even as its CEO expresses skepticism.
The functionality of the Bitcoin market has been subject to fluctuations in recent times. At the time of writing, the value of Bitcoin $64,741. 28, having seen a 4. 92% increase in the last day, is still down 8. 41% in the last seven days.
Despite those fluctuations, Bitcoin’s market cap recently surpassed $1. 2 trillion, reflecting its continued expansion and acceptance as an asset class.
Please note that some links on this site will direct you to third-party Internet sites, some of which are marketing affiliates and/or business partners of this site and/or its owners, operators, and affiliates. We may obtain a monetary refund from those Third Parties. Regardless of such relationship, we do not accept any responsibility for the conduct of any third party or the content or capability of its sites or Internet applications. A link, positive referral, or review of a broker or exchange will not be considered. as an endorsement of such broker’s or exchange’s products or services.
Risk Warning: Investing in virtual currencies, stocks, stocks and other securities, commodities, currencies and other derivative investment products (e. g. , contracts for differences (“CFDs”) is speculative and carries maximum risk. Each investment is exclusive and comes at exclusive risk.
CFDs and other derivatives are complex tools and carry the highest risk of wasting money temporarily due to leverage. You need to ask yourself if you understand how an investment works and if you can afford the increased risk of wasting your cash.
The costs of cryptocurrencies can vary wildly and are therefore not suitable for all investors. Cryptocurrency trading is not overseen by any EU regulatory framework. The above functionality does not guarantee long-term results. Any trading history filed is less than five years old, unless in a different case. expressed manner, and possibly would not be sufficient as a basis for investment decisions. Your capital is at risk.
When you manufacture stocks, your capital is at risk.