Crypto

Jamie Dimon, CEO of JPMorgan, calls cryptocurrencies “pets” and bitcoin an “exaggerated scam.”

JPMorgan CEO Jamie Dimon, a long-time crypto skeptic, considers Bitcoin (BTC) an “exaggerated scam” and likens cryptocurrencies to house stones.

In a new CNBC interview, Dimon says bitcoin and other digital assets “do nothing.”

However, Dimon sees the benefits of blockchain technology differently than cryptoassets.

This is different. Blockchain is a ledger technology system that we use to move information. We used it for an overnight repo, an intraday repo. We used it to transfer money. can be deployed. Do not forget that we have been talking about this for 12 years, but very little has been done.”

JPMorgan uses a platform called Liink, which is a blockchain developed by Onyx, a subsidiary of the banking giant. According to Onyx, Liink’s goal is to enable seamless data sharing between institutions.

During an interview with CNBC, Dimon also wondered if bitcoin was really scarce and if it would stop at 21 million tokens.

“How do you know it will stop at 21 million? I told people about it – everyone says so. Well, maybe it stops at 21 million and a picture of Satoshi comes up and laughs at you and says “na-na”. »

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