Jamie Dimon, CEO of JPMorgan Chase, confirms his important stance in the direction of Bitcoin, as soon as once more calling it a “Ponzi scheme.” Though he doesn’t describe himself versus crypto, Dimon argues that BTC lacks intrinsic worth and is closely utilized by intercourse traffickers, cash launderers, and ransomware.
Jamie Dimon states that Bitcoin has no intrinsic worth
In an interview with CBS Information, Jamie Dimon, CEO of JPMorgan Chase, reiterated his place towards Bitcoin, as soon as once more calling it a “Ponzi scheme.”
Listed here are his phrases on the chief of the crypto:
“Ultimately we may have some form of digital forex. I’m not towards cryptocurrencies. Bitcoin itself has no intrinsic worth. It’s closely utilized by intercourse traffickers, cash launderers, ransomware. It’s simply that I don’t like Bitcoin. I applaud your means to need to purchase or promote it. Identical to I feel you will have the fitting to smoke, however I don’t suppose it is best to smoke!”.
Based on Dimon, subsequently, Bitcoin has no intrinsic worth and is closely utilized by intercourse traffickers, cash launderers, and ransomware.
The CEO of JPMorgan Chase says he isn’t towards crypto, on the whole, however maintains that BTC is to not his liking.
The statements by Dimon come as the worth of BTC has recorded a slip all the way down to $90,000.
Jamie Dimon reiterates his skeptical stance on Bitcoin
This is just not the primary time that the CEO of JPMorgan has made unfavourable statements about Bitcoin.
Among the many most up-to-date, final April, Dimon had stated that, in response to him, cryptos like Bitcoin are a fraud and don’t have any future as forex. Even on that event, he had stated that BTC is a “Ponzi scheme”.
In actuality, Dimon’s criticisms of Bitcoin date again to 2017, through the full BTC speculative bubble, when the CEO of JPMorgan had threatened to fireplace his workers caught buying and selling crypto. Just a few months after this occasion, he regretted having performed so and started to make statements of disinterest in the direction of Bitcoin.
In 2021, then, Dimon had merely said that Bitcoin didn’t curiosity him, whereas it did curiosity his shoppers. For that reason, he would have chosen to supply funding merchandise linked to Bitcoin by way of his Financial institution.
In that 12 months, Dimon additionally went out on a limb, releasing future predictions on the worth of Bitcoin. In September 2021, the CEO of JPMorgan reportedly said that the worth of BTC would enhance by 10 instances within the following 5 years.
Regardless of this, nevertheless, Dimon continued to precise disinterest in buying the asset.
The slip of the BTC value
On the time of writing, Bitcoin (BTC) is price $95,127, in a dump of -6% in comparison with seven days in the past.
This week, evidently the worth of BTC has skilled an actual slide, which has introduced it down from $100,000 to $90,000.
Within the final 24 hours, nevertheless, evidently the buying and selling quantity of BTC has elevated by +144%, the equal of 71.47 billion {dollars}.
The market cap of BTC, intently linked to the worth, has additionally fallen. On the time of writing, BTC holds a market capitalization of 1.880 billion {dollars}. Final December 18, throughout ATH instances, the market cap of BTC had exceeded 2.100 billion {dollars}.