Key Takeaways
- Jamie Dimon reiterated his claim that Bitcoin has 'no intrinsic value.'
- Despite Dimon's views, JPMorgan profits from Bitcoin ETFs and blockchain projects.
- Donald Trump's upcoming presidency promises a pro-Bitcoin regulatory shift.
Jamie Dimon, CEO of JPMorgan Chase, reiterated his long-standing disapproval of Bitcoin in an interview with CBS News.
Dimon stated:
Bitcoin itself has no intrinsic value. [Bitcoin] is used heavily by sex traffickers, by money launderers, ransomware.
This sentiment aligns with his consistent opposition to the cryptocurrency, a stance he has held for years.
JPMorgan profits from Bitcoin’s growth
Despite Dimon’s criticism, JPMorgan has capitalized on Bitcoin’s increasing popularity as a financial instrument.
The bank is an authorized participant for BlackRock’s spot Bitcoin ETF and has expanded its blockchain platform, recently rebranded as Kinexys.
The platform aims to leverage real-world asset tokenization and plans to introduce on-chain foreign exchange capabilities by early 2025.
A stark contrast in views
Unlike BlackRock CEO Larry Fink, who shifted to a more favorable view of Bitcoin in recent years, Dimon has remained steadfast in his criticism.
His latest remarks come amid significant developments, including the upcoming reassumption of the U.S. presidency by Donald Trump, who has promised a friendlier regulatory environment for Bitcoin.
