World

Bitcoin

<p>Jamie Dimon, JP Morgan’s CEO, took advantage of the World Economic Forum at Davos to reiterate his sharp criticisms of Bitcoin, even comparing it to a “pet rock” with no value. However, his group continues to get involved in the crypto market.</p> 
<h2 id="h-jamie-dimon-publicly-attacks-bitcoin-again">Jamie Dimon Publicly Attacks Bitcoin Again</h2> 
<p>Jamie Dimon, CEO of <a href="https://www.cointribune.com/avis-du-pdg-de-jpmorgan-sur-le-bitcoin-btc-cest-un-systeme-de-ponzi-decentralise/" target="_blank" rel="noreferrer noopener">JP Morgan</a>, has never hidden his antagonism towards Bitcoin. On Wednesday, at the Davos Forum, he did it again, in front of cameras from all around the world. “<em>My advice is to stay away from it</em>,” he thundered, with his usual composure, addressing the queen of cryptos.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>Disdainful of the very concept of decentralized currency challenging banks, Mr. Dimon sees it merely as a tool for laundering dirty money, tax evasion, and all sorts of illicit trafficking. His <a href="https://www.coindesk.com/business/2024/01/17/jamie-dimon-bashes-bitcoin-again-a-pet-rock/?term=organic" target="_blank" rel="noreferrer noopener">remarks</a> are as vehement as those he has publicly made in the past.</p> 
<p>“<em>Bitcoin is nothing more than a vulgar pet rock</em>, <em>with no real utility</em>“, he declared with his typical eloquence.</p> 
<p>Indeed, the JP Morgan chief had urged the <a href="https://www.cointribune.com/des-membres-du-congres-americain-blament-la-crypto-pour-lecart-fiscal/" target="_blank" rel="noreferrer noopener">American Congress</a> last December to simply “shut down” Bitcoin. A move that outraged a part of the crypto ecosystem.</p> 
<h2 id="h-jpmorgan-gets-involved-despite-its-ceo-s-diatribes">JPMorgan Gets Involved Despite Its CEO’s Diatribes</h2> 
<p>Despite his repeated attacks against Bitcoin, Jamie Dimon is more measured when it comes to other cryptos. He acknowledges that some may prove useful for <a href="https://www.cointribune.com/en/real-asset-tokenization-will-propel-ethereum-in-2024/" target="_blank" rel="noreferrer noopener">tokenizing real-world assets</a>.</p> 
<p>The radically anti-Bitcoin stance of Jamie Dimon is surprising, considering many traditional banks are now seriously interested in cryptos.</p> 
<p>At the same time, JPMorgan does not hesitate to ride the Bitcoin wave, offering index funds tied to its value or even a digital asset custody service launched in 2021. The bank is even an official partner of the recent <a href="https://www.cointribune.com/en/bitcoin-blackrock-ceos-explosive-reversal/" target="_blank" rel="noreferrer noopener">BlackRock spot ETF</a>, thus allowing its wealthy clients to be exposed to Bitcoin’s fluctuations.</p> 
<p>One might then wonder if behind his media tirades, Jamie Dimon is partly posturing politically. His public outbursts obscure the fact that JP Morgan, like its competitors, is adopting cryptocurrencies to its advantage.</p> 
<p>When specifically asked about the increasing involvement of giants like Fidelity or BlackRock, Mr. Dimon dodged the question, stating he “didn’t care”. He also said that it would be the last time he spoke on this sensitive subject.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2"> 
 </div> 
</div> 
<p>The discourse of the tempestuous banker seems decidedly out of date in light of the facts. J<a href="https://www.cointribune.com/en/etf-bitcoin-volumes-are-gigantic/" target="_blank" rel="noreferrer noopener">P Morgan is indeed integrating crypto</a>, even though its CEO continues to publicly decry it.</p>

The CEO of JPMorgan unleashes the Anti-Bitcoin storm in Davos!

Table of Contents

Cointribune EN

Other articles published on Jan 18, 2024

An Overview of APX Finance: Will 1001x Leverage Help This $10B+ Perp DEX Come Out on Top?

Pullix (PLX) Presale Token Battles Maker and Shiba Inu for Top Altcoin Position

Exploring RSI Divergence in Bitcoin: Insights from Peter Brandt

Price Analysis Jan 18: BTC, TIA, SHIB, VET, JASMY

Crypto Bull Run 2024: BTC’s Fate, ETH’s Climb, and BDAG Coin’s Feat

Good News for Crypto Investors? South Korea Might Scrap Tax on Gains

Join our free newsletter for daily crypto updates!