$BTC

The head of the investment bank JPMorgan, Jamie Dimon, during an interview with CNBC, said that Bitcoin is not a valuable cryptocurrency. He noted that he advocates the right to use BTC, but at the same time added: “I’m not telling you what to do, but my personal advice is don’t mess with it.” The top manager also jokingly stated that he no longer intends to discuss the first cryptocurrency.

Source: Twitter (NYSE:TWTR).com



Dimon added that cryptocurrency can have value with a built-in smart contract, and supported the idea of ​​tokenizing real world assets (RWA) such as real estate. He positively assessed the blockchain technology itself, recalling that JPMorgan also uses it. However, Dimon believes that Bitcoin is used mainly for fraud and money laundering.

Dimon is a longtime Bitcoin critic. Back in 2017, he called the asset fraudulent and allowed it to collapse. The top manager explained this position by concerns about the lack of regulation, high price volatility and the possibility of the asset being used in illegal activities.

In addition, during a hearing in the US Senate last December, he said that if given the authority, he would ban cryptocurrencies due to the risks of money laundering. The phrase was heard in a discussion with Senator Elizabeth Warren, who, as part of her election campaign, announced the creation of an “anti-cryptocurrency army”, and later said that industry companies were sabotaging Congress’ efforts to study cryptocurrencies by hiring former government employees.

On January 11, trading in Bitcoin-based spot exchange-traded funds (ETFs) from ten of the largest investment companies began in the United States. Already on January 16, the total daily trading volume of these funds was three times higher than the five hundred ETFs launched last year.

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