JPMorgan CEO Jamie Dimon Compares Bitcoin to Smoking

JPMorgan CEO Jamie Dimon has criticized Bitcoin once more, claiming it has no intrinsic worth and is usually misused by dangerous actors. He additionally in contrast Bitcoin to smoking, saying folks might have the fitting to do it, however that doesn’t make it a good suggestion.

In a Sunday interview with CBS Information, Dimon acknowledged: “We’re going to have some sort of digital forex in some unspecified time in the future. I’m not in opposition to crypto. You recognize, Bitcoin itself has no intrinsic worth. It’s used closely by intercourse traffickers, cash launderers, ransomware. So, I simply don’t really feel nice about Bitcoin.”

“I applaud your skill to wanna purchase or promote it. Similar to I believe you will have the fitting to smoke, however I don’t assume it’s best to smoke.”

Dimon Maintains Harsh Stance on Bitcoin Whereas Advocating for Blockchain Options

Dimon has persistently argued that Bitcoin lacks intrinsic worth. He believes it primarily fuels hypothesis. Prior to now, he has known as it a “fraud,” “hyped-up fraud,” “pet rock,” and “nugatory.” He has additionally in contrast it to speculative bubbles just like the Dutch tulip mania. Dimon warns that traders will doubtless face unfavorable outcomes.

Whereas Dimon has criticized crypto, he takes a extra optimistic view of blockchain know-how. He acknowledges its sensible makes use of and has highlighted JPMorgan’s involvement in blockchain-based initiatives like JPM Coin.

Dimon Not Shocked by Trump’s Election, Says Voters Needed Professional-Progress Insurance policies

In one other a part of the interview, Jamie Dimon stated he wasn’t stunned by Donald Trump’s election win. He defined that voters need extra pro-business insurance policies. Regardless of optimistic indicators like low unemployment, managed inflation, and a booming inventory market, Dimon stays cautious. He admits he stays “cautiously pessimistic” in regards to the economic system’s outlook.

“Folks have been offended at no matter they known as the state – the ‘swamp.’ Ineffective authorities. That folks needed sort of extra pro-growth and pro-business insurance policies, that they didn’t wish to be lectured to on social insurance policies constantly. I believe it’s the lecturing a part of it. It’s social superiority, it’s the ‘My means or the freeway.’ I traveled everywhere in the nation; I felt it wherever I went.”

The submit JPMorgan CEO Jamie Dimon Compares Bitcoin to Smoking appeared first on Cryptonews.