Jamie Dimon, CEO of JPMorgan Chase (JPM), is completely consistent when it comes to his views on Bitcoin (BTC).
“Bitcoin itself has no intrinsic value,” he said in an interview with CBS News on Sunday. “It is widely used by sex traffickers, money launderers and ransomware. So I just don’t feel good about Bitcoin.
Similar to BlackRock CEO Larry Fink, Dimon was a long-time opponent of Bitcoin. Unlike Fink – who underwent a 180-degree turnaround a few years ago – Dimon has continued to have the same negative outlook, even as the bank he runs has benefited from the growing use of bitcoin as a financial product, including as an authorized participant. for BlackRock’s bitcoin spot ETF.
JPMorgan also recently rebranded its blockchain platform, formerly Onyx, to Kinexys, with the aim of doubling down on real-world tokenization. The goal, according to Umar Farooq, co-head of payments at JPM, is to reduce the limitations of current financial infrastructure, such as the tokenization of real-world assets (RWA). The banking giant said in November that it plans to introduce on-chain FX capabilities to its platform as early as the first quarter of 2025.
Dimon’s most recent comments come just days before Donald Trump takes over the presidency of the United States. Trump and his team have promised and at this point appear committed to creating a much friendlier regulatory environment for bitcoin and crypto in general.
