Here we go. In today's Forbes article, our good friend Jamie Dimon promises to shut up about Bitcoin once and for all. I don't believe he will though.
Or maybe it's just his way of saying that his judgement on Bitcoin was wrong without admitting it outright.
JPMorgan’s Jamie Dimon Says He Won’t Talk About Bitcoin Anymore—After Trashing It One Last Timehttps://www.forbes.com/sites/dereksaul/2024/01/17/jpmorgans-jamie-dimon-says-he-wont-talk-about-bitcoin-anymore-after-trashing-it-one-last-time/?sh=3a4aec0329c1TOPLINE
Jamie Dimon, the billionaire CEO of the U.S.’ largest bank JPMorgan Chase, offered what he said would be his last-ever takedown of bitcoin Wednesday, maintaining his long-held attitude toward the $830 billion cryptocurrency even after last week’s breakthrough for institutional investment in bitcoin involving JPMorgan.
KEY FACTS
Bitcoin is akin to a “pet rock” because it “does nothing,” Dimon said on CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.
Dimon explained the only “real use cases” for bitcoin are criminal activities like sex trafficking and money laundering, echoing his prior criticisms of the massive digital asset.
In what Dimon characterized as “the last time” he’d ever talk about bitcoin, he suggested that bitcoin derives the rest of its value from paper trading rather than serving a tangible purpose, but still believes investors have a right to buy bitcoin because it’s a “free country.
Dimon’s still-dismissive attitude toward bitcoin notably comes a week after regulators approved bitcoin exchange-traded funds, the first-ever investment vehicles enabling backers to invest in real-time bitcoin prices via standard security exchanges.
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