JPMorgan CEO Jamie Dimon has not warmed up to Bitcoin despite the fact that the cryptocurrency is experiencing broader institutional acceptance.
During a recent interview with CBS, the influential banker said that he did not feel “great” about Bitcoin, insisting that the cryptocurrency actually has no intrinsic value.
Moreover, he mentioned that Bitcoin is being used heavily for money laundering and other criminal activities.
The prominent banker is one of longtime Bitcoin critics who remain skeptical of Bitcoin despite its wider institutionalization. Back in 2017, Dimon said that he would fire any JPMorgan trader who would touch Bitcoin, calling the cryptocurrency “a fraud.” Last year, he said that his personal advice was not to get involved with Bitcoin.
Dimon has once again compared Bitcoin to smoking: while he believes that people should have the ability to buy it, he does not view this as a prudent decision.
Despite Dimon’s personal JPMorgan launched an in-house Bitcoin fund in 2021. Last year, the bank also revealed minor exposure to Bitcoin ETFs.
It seems unlikely that Dimon is going to embrace cryptocurrency as the CEO of JPMorgan.
The 68-year-old billionaire, who has been at the helm of the largest US bank for roughly two decades, has also hinted at his retirement plans during the interview. Dimon said that he would likely remain as the bank’s chairman after leaving his CEO role.
For now, it is not clear who is going to spearhead JPMorgan after Dimon’s departure.
