JPMorgan CEO Still Not Feeling Close to Bitcoin

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On the second day of the DealBook Online Summit hosted by CNBC’s Andrew Ross Sorkin, JPMorgan CEO Jamie Dimon said he has not changed his mind about Bitcoin.

The general manager of America’s largest bank says he still doesn’t feel close to Bitcoin:

 

“I don’t know if I changed my mind. We use the blockchain. We have JPMorgan Coin, a dollar-backed blockchain. You can move money, divide it into pieces… We believe in cryptocurrencies that are proprietary and properly backed. But Bitcoin is a little different and not for me ”

The billionaire states that he does not want to report because of the Bitcoin comment he says he is not interested in the world’s largest cryptocurrency. However, he still recognized the destructive potential of blockchain technology:

“The blockchain itself will be critical in allowing people to move money around the world cheaper.”

Dimon also echoed the controversial comment recently made by the hedge fund legend Ray Dalio, who believes that Bitcoin can be regulated by governments:

“If it gets bigger, it’s regulated.”

The Archenemy of the Cryptocurrency Community

Dimon became the main enemy of the cryptocurrency community as he described Bitcoin as a “scam” in September 2017, when Bitcoin began to become popular. While some think that Dimon may have warmed to Bitcoin due to JPMorgan’s crypto move, the situation does not seem like that, as he maintains the “blockchain, not Bitcoin” narrative.

The market value of the leading crypto coin is $ 331 billion as of the time of publication. This amount is very close to JPMorgan’s market value.

See Also
Banking giant JPMorgan starts serving Bitcoin exchanges

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