JP Morgan CEO reiterated his stance that Bitcoin is “a fraud.”
“If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value.
“If it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,” Dimon said. “To the extent crypto is accessing certain blockchain things, that might have some value.”
#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earn🌐 $BTC
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