🌋 JPMorgan's CEO Recognizes the Merit of Certain Cryptocurrencies
posted 17 Jan 2024
JPMorgan CEO Jamie Dimon, in a CNBC interview, made a distinction between cryptocurrencies that facilitate smart contracts (for data transfer and tokenization) and those he considers to have no inherent value.
He assigned Bitcoin to this latter category. Dimon cited activities like money laundering, tax evasion, and fraud as some of Bitcoin's use cases, notwithstanding the fact that his own company, JPMorgan, is an authorized participant in various spot Bitcoin ETFs.
When a journalist pointed out BlackRock CEO Larry Fink's evolving stance on Bitcoin, Dimon replied, indicating that it doesn't affect his perspective.
It's notable that Dimon had previously declared in a U.S. Congress session his staunch opposition to Bitcoin and suggested that cryptocurrencies should be banned if it were up to him.
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