JPMorgan CEO Jamie Dimon is once again in the news for his comments on cryptocurrency and the increasing adoption rates of Bitcoin and other cryptocurrencies. Speaking to CBS Boston, he said that cryptocurrency has no intrinsic value and people are better off without investing in it. He added that he has personally never invested in cryptocurrencies, nor will he ever do so in the future.
Jamie Dimon has been a long-time anti-crypto speaker. In the past, he had criticized cryptocurrencies on multiple occasions. Once while speaking to Reuters, he echoed the same sentiment by saying that Bitcoin is worthless. Keeping with the trend of bank governors and officials speaking against crypto, Dimon reiterated the fact that financial institutions have a hard time dealing with cryptocurrencies.
However, it is interesting to note that JPMorgan is now offering different crypto investment options to its clients. According to Dimon, the company is doing so since there is a demand for cryptocurrencies among investors. In a recent report, many fund managers said that the potential of cryptocurrency is greater than gold as a hedge against inflation.
Dimon ended his tirade against crypto by saying that he believes everyone should have the option of investing in cryptocurrencies in a free country. But that does not mean that he supports them in any way. Previously he said that regulators will impose heavy restrictions on crypto transactions. Whether Dimon’s comments have any effect on the cryptocurrency community is subject to time.