{"id":141922,"date":"2021-10-15T23:09:32","date_gmt":"2021-10-15T23:09:32","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141922"},"modified":"2021-10-15T23:09:32","modified_gmt":"2021-10-15T23:09:32","slug":"jamie-dimon-really-doesnt-like-bitcoin","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jamie-dimon-really-doesnt-like-bitcoin\/","title":{"rendered":"Jamie Dimon Really Doesn't Like Bitcoin"},"content":{"rendered":"

Jamie Dimon \u2013 the chairman and CEO of JPMorgan Chase \u2013 has stated in a recent interview that he doesn\u2019t care much for bitcoin, going so far as to call it \u201cworthless.\u201d<\/p>\n

Jamie Dimon Has a Negative BTC Attitude<\/h2>\n

In the interview, he comments that he doesn\u2019t think much of BTC, though his company is willing to offer bitcoin options given that there is an audience for them. He doesn\u2019t want to serve as a regulator of any kind. Thus, he is not willing to simply push bitcoin to the side given how many people want to get their hands on it, though he doesn\u2019t see much value to the asset from a personal sense.<\/p>\n

In the interview, he states:<\/p>\n

\n

I personally think that bitcoin is worthless, [but] I don\u2019t want to be a spokesperson \u2014 I don\u2019t care. It makes no difference to me. Our clients are adults. They disagree. That\u2019s what makes markets. So, if they want to have access to buy yourself bitcoin, we can\u2019t custody it, but we can give them legitimate, as clean as possible, access.<\/p>\n<\/blockquote>\n

In addition, he is also confident that many other countries will follow in China\u2019s footsteps and make crypto use illegal. Not long ago, China announced that it was removing all digital currency miners from its turf. This was immediately followed by a ban on all crypto transactions and related activities, and thus digital currencies have become fully outlawed in the country.<\/p>\n

He says that other nations will take a similar route, and those that don\u2019t will seek to \u201cregulate the hell out of\u201d cryptocurrencies. He says:<\/p>\n

\n

I\u2019ve always believed it\u2019ll be made illegal someplace, like China made it illegal, so I think it\u2019s a little bit of fool\u2019s gold.<\/p>\n<\/blockquote>\n

Dimon also has a lot of skepticism regarding bitcoin\u2019s alleged cap of 21 million coins. One of the big benefits to bitcoin is that it cannot be consistently printed like fiat currencies. Bitcoin is a finite currency, and thus its value is considered more \u201clocked\u201d than with other assets. Dimon took issue with this in his interview and said:<\/p>\n

\n

How do you know it ends at 21 million [bitcoins]? You all read algorithms? You guys all believe that? I don’t know. I’ve always been a skeptic of stuff like that.<\/p>\n<\/blockquote>\n

Some People Come to Bitcoin’s Rescue<\/h2>\n

Naturally, many bitcoin fans came to the asset\u2019s rescue and bashed Dimon\u2019s words, claiming that they were ignorant or incorrect in some way. One of these aides was Mike Novogratz, a well-known bitcoin bull and former hedge fund manager. Novogratz said of Dimon\u2019s anti-crypto attitude:<\/p>\n

\n

So strange. For a man who has done a brilliant job running a giant bank, his answers around $BTC are sophomoric, and he keeps doubling down on them. I pray I stay open minded my whole life.<\/p>\n<\/blockquote>\n

At press time, bitcoin is trading for just shy of $57,000.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jamie Dimon \u2013 the chairman and CEO<\/p>\n","protected":false},"author":3,"featured_media":141921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJamie Dimon Really Doesn't Like Bitcoin - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/jamie-dimon-really-doesnt-like-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jamie Dimon Really Doesn't Like Bitcoin - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Jamie Dimon \u2013 the chairman and CEO\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/jamie-dimon-really-doesnt-like-bitcoin\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-15T23:09:32+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/Jamie-Dimon-Really-Doesn039t-Like-Bitcoin.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/jamie-dimon-really-doesnt-like-bitcoin\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/jamie-dimon-really-doesnt-like-bitcoin\/\",\"name\":\"Jamie Dimon Really Doesn't Like Bitcoin - 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