Crypto

Jamie Dimon, CEO of JPMorgan, reiterates his negative attitude towards bitcoin and other virtual assets.

While there are many bitcoin enthusiasts who believe in the existence of the cryptocurrency, there are also unrepentant critics of bitcoin, such as JPMorgan CEO Jamie Dimon. The CEO has made several negative comments about cryptocurrencies and continues to express his stance against all virtual currencies.

One of his famous criticisms of bitcoin dates back to 2017 when he called the underlying crypto asset a “scam”. To heighten his opposition to the digital asset, he added that any JPMorgan trader caught trading BTC would be fired immediately.

Over time, Jamie Dimon has softened his stance on crypto assets, but still opposes bitcoin. Some time ago, he expressed his belief in blockchain technology, noting that the new technology has value. JPMorgan has also explored blockchain despite the CEO’s stance on cryptocurrencies.

Jamie Dimon is especially against bitcoin and everything related to it. He reaffirmed his views on bitcoin and other cryptocurrencies while speaking at the company’s 41st annual health conference. He called the digital currency a speculative “asset” that can never replace real money or become an efficient payment system.” The head of JPMorgan added that cryptocurrencies have become a standard tool among criminals for illegal activities. In fact, Mr. Dimon said that virtual assets are used more for illegal activities than for legitimate ones. The businessman also explained that the volatility of cryptocurrencies explains why some people invest in them instead of purchasing tangible products and investing in services.

In a tweet, Atrium Health’s director of innovation and commercialization, Rasu Shreshta, wrote that Dimon called the cryptocurrency a “decentralized Ponzi scheme.” This is the 100th time Jamie Dimon has taken on Bitcoin and other altcoins. Last year, the CEO called bitcoin “dirty” and “expensive.” He criticized the cryptocurrency at a meeting of the Institute of International Finance held in Washington in October 2021. The billionaire said he would “never” buy cryptocurrencies.

While Jamie Dimon remains a bitcoin critic, JPMorgan continues to make waves in the blockchain industry. The company already allows tokenized USD deposits with JPM Coin. Coinspeakr also reported in October that the financial services company is creating the option to pay with non-fungible tokens. Company related to with Visa to introduce a common blockchain payment gateway. Reports have revealed that the duo are planning to roll out the payment gateway in several countries.

There were also discussions at JPMorgan about NFT media music.

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