JPMorgan CEO Jamie Dimon is a well-known crypto skeptic. However, his company is involved in every crypto venture. Today, appearing on Fox Business, Dimon once again lashed out at the king of cryptocurrencies. The head of one of the world’s largest banks continues his hostile stance while engaging in so much crypto-related business.
JPMorgan CEO and Bitcoin
JPMorgan Chase CEO Jamie Dimon reiterated his view that Bitcoin has no value in an interview with Fox Business. However, the bank led by the same person filed as an Authorized Participant in BlackRock‘s Spot Bitcoin ETF. So, there is a Dimon who both services an ETF indexed to Bitcoin and thinks it is worthless. This contradiction shows that he holds a view that is “worthless”.
During the program, Dimon stated the following;
“I don’t care what other people do with Bitcoin. Its main uses are things like prostitution, tax evasion, money laundering, financing terrorism. If you’re buying and selling bitcoin, it has no value.”
Wanting to Destroy Crypto
Dimon has always adopted a negative approach towards cryptocurrencies. In fact, if you remember, at the end of last year, he told lawmakers that he would end crypto if he were in government. Expressing his hatred for crypto to the extent of completely banning it, Dimon could not prevent his company from making AP agreements for spot Bitcoin ETFs.
At a Senate Banking Committee session, he had said;
“I have always been deeply opposed to crypto, Bitcoin, etc. If I were the government, I would shut it down.”
In previous statements, he had said;
“I personally think Bitcoin is worthless. Our clients are adults, they don’t agree, that’s what makes the markets, so if they want access to buy Bitcoin, we can do that. We can provide them with legitimate, as clean as possible access.”
Speaking of money laundering and financing terrorism, just last year Deutsche Bank received a fine of 186 million dollars for this reason. Bank of Queensland, Guaranty Trust Bank UK Ltd, ADM Investor Services International Ltd, and others should not be forgotten as the fined parties of 2023.
