Posted by on October 12, 2021 2:01 pm
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JP Morgan CEO Jamie Dimon Calls Bitcoin ‘Worthless,’ Says It Will Be Government Regulated

JP Morgan chairman and CEO Jamie Dimon has branded Bitcoin as “worthless” and said that governments will soon regulate cryptocurrencies. Dimon has been outspoken about digital currencies in the past, previously telling Axios that it has “no intrinsic value” and that regulators are going to “regulate the hell out of it.” At a virtual event hosted by the Institute of International Finance on Monday, Dimon doubled down on his previous comments, saying,” I personally think that bitcoin is worthless.” In February 2019, JP Morgan became the first global bank to design a network to facilitate instantaneous payments using blockchain technology when it rolled out JPM Coin. According to the investment bank, JPM Coin “enables participating J.P. Morgan clients to transfer U.S. Dollars held on deposit with J.P. Morgan,” and “facilitates real-time value movement, helping to solve common hurdles of traditional cross-border payments.” In October 2020, the financial service created a new unit for blockchain projects after announcing the …

Originally appeared on The Epoch Times

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