Jamie Dimon isn’t softening the tone of his criticisms of cryptocurrency.
Dimon, the CEO of JPMorgan Chase, once questioned bitcoin in an interview with Lesley Stahl of CBS News.
“We’re going to have some kind of virtual currency at some point,” Dimon said. “I am opposed to cryptocurrencies. You know, bitcoin itself has no intrinsic value. It is widely used by sex traffickers, money launderers, and ransomware. “
In the past, Dimon has said that cryptocurrencies are like “pet stones,” claiming that bitcoin is fraudulent like a Ponzi scheme.
“I just don’t feel great about bitcoin,” Dimon said in an interview posted on Sunday. “I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke.”
The incoming Trump administration has signaled it would be friendly to the industry. Bitcoin’s price jumped 121% in 2024, breaking the $100,000 barrier for the first time in December.
Dimon did, however, note the legitimacy of blockchains.
A blockchain is a virtual knowledge base that outlets “lock” knowledge in chronological order, and those blocks are connected in combination into a “chain. “
“Using blockchains for money, moving money, moving data, we are already using it,” he said. “Stablecoins are real. How they are used and how they get through regulators is a factor they want to address. ”
Stablecoins are a type of virtual currency that is connected to other assets, such as a currency or a commodity.
“JPMorgan is already blockchain,” he added. “The blockchain itself will work and is a type of cryptocurrency. ”
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