JPMorgan CEO Jamie Dimon has not warmed as much as Bitcoin even if the cryptocurrency is experiencing broader institutional acceptance.
Throughout a current interview with CBS, the influential banker stated that he didn’t really feel “nice” about Bitcoin, insisting that the cryptocurrency really has no intrinsic worth.
Furthermore, he talked about that Bitcoin is getting used closely for cash laundering and different felony actions.
The distinguished banker is certainly one of longtime Bitcoin critics who stay skeptical of Bitcoin regardless of its wider institutionalization. Again in 2017, Dimon stated that he would fireplace any JPMorgan dealer who would contact Bitcoin, calling the cryptocurrency “a fraud.” Final 12 months, he stated that his private recommendation was to not get entangled with Bitcoin.
Dimon has as soon as once more in contrast Bitcoin to smoking: whereas he believes that folks ought to have the power to purchase it, he doesn’t view this as a prudent choice.
Regardless of Dimon’s private JPMorgan launched an in-house Bitcoin fund in 2021. Final 12 months, the financial institution additionally revealed minor publicity to Bitcoin ETFs.
It appears unlikely that Dimon goes to embrace cryptocurrency because the CEO of JPMorgan.
The 68-year-old billionaire, who has been on the helm of the most important US financial institution for roughly twenty years, has additionally hinted at his retirement plans in the course of the interview. Dimon stated that he would doubtless stay because the financial institution’s chairman after leaving his CEO position.
For now, it’s not clear who’s going to spearhead JPMorgan after Dimon’s departure.