CEO: BTC is 'Worthless' But My Clients Disagree
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CEO: BTC is 'Worthless' But My Clients Disagree

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1 year ago

Speaking at a conference, JPMorgan boss Jamie Dimon said: "Our clients are adults, they disagree, that’s what makes markets."

CEO: BTC is 'Worthless' But My Clients Disagree

Índice

Jamie Dimon has once again described Bitcoin as “worthless” — but admitted many of his clients disagree with his stance. 

The JPMorgan Chase CEO also warned that government regulation will come to ensure the cryptocurrency isn’t used for anti-money laundering purposes or to evade tax.

Speaking at the Institute of International Finance, the head of America’s largest bank said:

“I personally think that Bitcoin is worthless, but I don’t want to be a spokesman for it — I don’t care. It makes no difference to me… Our clients are adults, they disagree, that’s what makes markets. So if they want to have access to buy or sell Bitcoin, we can give them legitimate, as clean as possible access.”

That latter remark was a nod to how JPMorgan Chase began allowing its wealth management clients to access crypto funds over the summer.

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Pushing Upwards

Bitcoin managed to hit $57,627.88 on Tuesday — and although prices have cooled slightly since then, the world’s biggest cryptocurrency remains comfortably above $57,000.

Although China has indeed been clamping down on digital assets, the U.S. appears to have been a little more circumspect. 

While Federal Reserve chairman Jerome Powell believes that stablecoins should be subject to tighter oversight, he said the central bank has “no intention” to ban private cryptocurrencies like Bitcoin. 

Similar remarks were made by SEC Chairman Gary Gensler, who said any decision to outlaw BTC would have to be made by Congress. 

Dimon has made anti-Bitcoin remarks quite regularly over recent years — declaring that it has no value, that it’s fool’s gold.

He even called it a fraud at one point, but later said he regretted making those remarks.

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