•JPMorgan CEO Jamie Dimon made comments about investing in Bitcoin (Bitcoin-BTC) in his final media appearance this morning.
•Dimon's opinion on Bitcoin (BTC)
•On Wednesday, Damon spoke to the hosts of the “Squawk Box” program during the morning segment on the American channel CNBC about digital currencies and his “personal advice to the public not to get involved in them.” Damon stated that the “primary uses” of Bitcoin (in his view) are “facilitating fraud and money laundering practices.” Tax evasion and sex trafficking,” he continued, saying, “If the problem of misuse of currency is not resolved, the government may be forced to ban dealing in it completely.” However, Dimon stated that he would “defend” the public’s right to use it, as he added: “I do not want to dictate to anyone.” “What he should do...this country is free.”
•JPMorgan's connection to Bitcoin (BTC)
•When Squawk Box co-host Andrew Ross Sorkin tried to talk about major Wall Street firms rushing to launch Spot Bitcoin ETFs, Dimon wanted to end the conversation on that point, responding with: “First, I don’t care about this topic... Let’s stop talking about this nonsense, please.”
•It is noteworthy that Dimon's comments came a week after the Securities and Exchange Commission (SEC) approved applications from applicants to create Bitcoin Spot ETFs, and JPMorgan is considered a licensed partner in BlackRock's Bitcoin exchange-traded fund (BlackRock), despite Dimon's personal opinion on Bitcoin. . •Similarly, JPMorgan has issued its own digital currency and called it JPM Coin. According to Takis Georgakopoulos, its global head of payments, JPM Coin is used to facilitate transfers worth more than $1 billion per day, and is expected to approach this number. From $10 billion in 2024.
•Dimon vs. Senate Dimon's recent views on Bitcoin echo statements he made during a Senate hearing in December, in which he answered questions from Senator Elizabeth Warren, claiming that he has always been "more of a cryptocurrency scammer." Hostility,” and he concluded his answers by saying: “If I were in the government’s place, I would ban its use completely.”
•As for Warren, she explicitly expressed her opposition to the digital currency sector, as she is working to pass two bills that would severely restrict digital currency technology. Warren stated in the same session the following: “I do not usually stand in solidarity with the CEO of a bank with a market value of billions of dollars when it comes to... Banking policies, but this is a matter of national security.”
•Despite the above, the CEO of JPMorgan praised blockchain technology during his appearance yesterday morning on CNBC, describing it as “effective,” and added his opinion that “digital financial representation” may be valuable in the future thanks to “smart contract” mechanisms. On Wednesday, Damon claimed that this was the “last time” he participated in a controversy over the Bitcoin currency, indicating that we would see in the future the extent of the validity of his opinion given his controversial history regarding his statements about the crypto sector.
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