JP Morgan CEO Jamie Dimon once again voiced his views on Bitcoin in an in-depth interview with Bloomberg, reiterating his long-held view that BTC is a “scam.”
Defined Bitcoin as a “Scam” Again
“If you mean a cryptocurrency like Bitcoin, I've always said it's a fraud,” Dimon told Bloomberg's Emily Chang, adding that he doesn't see its future as a currency. Despite this firm stance, JP Morgan's status as an authorized participant in BlackRock's Spot Bitcoin ETF shows that it has a complex relationship with the digital asset.
In addition to labeling Bitcoin as a “public decentralized pyramid scheme,” Dimon also acknowledged that blockchain technology and smart contracts are valuable. “If it's a cryptocurrency that can do something like a smart contract that has value, there will be smart contracts and blockchain studies,” Dimon said.
Dimon announced in his last interview with CNBC that he would never talk about BTC again, but the JP Morgan CEO seems to have broken his promise early.
*This is not investment advice.