Posted by on October 12, 2021 4:02 pm
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JPMorgan CEO Jamie Dimon calls Bitcoin ‘worthless’; predicts it will be regulated

Jamie Dimon, Chairman and CEO of JPMorgan Chase, speaks at the Bloomberg Global Business Forum, Wednesday, Sept. 25, 2019 in New York. (Mark Lennihan/AP)

JPMorgan CEO Jamie Dimon calls Bitcoin ‘worthless’; predicts it will be regulated

Matthew Miller October 12, 03:34 PMOctober 12, 03:34 PM

JPMorgan Chase co-CEO Jamie Dimon predicted Monday that the government would regulate cryptocurrency, adding that Bitcoin was “worthless.”

“I personally think Bitcoin is worthless, but I don’t want to be a spokesperson,” Dimon said during a virtual appearance at the Institute of International Finance Meeting.”I don’t care. It makes no difference to me. I don’t think people should smoke cigarettes.”

JPMORGAN CEO JAMIE DIMON SAYS BITCOIN REGULATION IS INEVITABLE

He added that the bank would not stop its customers from buying and selling the digital currency despite his negative feelings.

“Our clients are adults, they disagree. That’s what makes markets. If they want access to buy and sell bitcoin … we can give them legitimate, clean-as-possible access,” he said.

Dimon predicted the government would step in to regulate cryptocurrency for several reasons.

“No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for [anti-money laundering] purposes, for [Bank Secrecy Act] purposes, for tax,” he said.

Dimon has been a strong critic of cryptocurrency, once likening it to “a fraud” and saying it would eventually “blow up” in 2017.

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He recently told Axios CEO Jim VandeHei that Bitcoin had “no intrinsic value.”

“I’ve always believed it’ll be made illegal someplace, like China made it illegal, so I think it’s a little bit of fool’s gold,” he said.

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Originally appeared at Washington Examiner

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