Jamie Dimon on Bitcoin: Don’t get involved
Despite JPMorgan’s role in BlackRock’s SEC-approved Bitcoin ETF, its CEO, Jamie Dimon, remains resolute in his anti-crypto rhetoric and BTC skepticism. Bitcoin (BTC) holds little utility outside of serving as a channel for hundreds of billions in illicit wealth from fraud, money laundering, tax avoidance, and sex trafficking, said JPMorgan Chase CEO Jamie Dimon. Speaking with CNBC at the 2024 World Economic Forum in Davos, Dimon commented on the spot BTC ETFs approved by Gary Gensler’s Securities and Exchange Commission (SEC) on Jan. 10, noting that blockchain’s value exists in tokenization of real-world assets like real estate and not in cryptocurrencies like Bitcoin. Blockchain is real and it’s a technology. We at JPMorgan use it. It’s going to move money, data, and it’s efficient. We’ve talked about it for 12 years now. Bitcoin on the other hand is the pet rock. Jamie Dimon, JPMorgan CEO Dimon, whose banking giant is an authorized participant in BlackRock’s iShares Bitcoin Tr...