JPMorgan CEO Criticizes BTC Again, But Does Not Oppose Crypto

Odaily Planet Daily News Morgan Stanley CEO Jamie Dimon once again criticized BTC, saying it has no Intrinsic Value and is often abused by wrongdoers. He also compared trading BTC to smoking, saying that people may have the right to smoke, but that doesn’t mean smoking is a good idea. Dimon said in an interview last Sunday: “We will have some form of digital currency at some point. I’m not against cryptocurrency (crypto). Bitcoin itself does not have Intrinsic Value. It is widely used by sex offenders, money launderers, and ransomware. So, I don’t feel good about BTC.” He added, “I agree that you have the ability to buy and sell BTC. Just like I believe you have the right to smoke, but shouldn’t smoke.” Dimon has always believed that BTC lacks Intrinsic Value and promotes mainly speculative behavior. In the past, he has referred to BTC as “fraud,” “pet rock,” and “worthless.” He has also compared it to speculative bubbles like the Dutch tulip mania. Dimon warned that investors could face negative outcomes. Although he criticized BTC, he has a more positive view of blockchain technology. Dimon recognizes its practical use and emphasizes that JPMorgan Chase is involved in blockchain-based projects such as JPM Coin. (CBS News)