JP Morgan Its CEO, Jamie Dimon, described Bitcoin (BTC) as a “pyramid chain” earlier this year. The CEO continues to advocate the same view for BTC and other cryptocurrencies. Here is Dimon’s latest comment on the markets.
Jamie Dimon spoke on CNBC’s Squawk Box. He did not hesitate to express his current views on cryptocurrencies. In response to this question, Dimon asked the other members of the panel why they were “out of breath” discussing the issue. BTC and other crypto assets are “fake and ridiculous,” according to the CEO.
JP Morgan CEO Is Not Backing Down on Bitcoin
Despite his views on cryptocurrencies and Bitcoin, Dimon is quite optimistic about blockchain technology. The CEO also underlined that he is quite skeptical about Bitcoin’s limited supply of 21 million.
“(To Satoshi) And how do you know it will stop at 21 million? Maybe it will reach 21 million and Satoshi’s picture will come out and laugh at you all.”
Didn’t Bypass FTX Example
CEO of JPMorgan, cryptocurrency Talking about the market, he openly admitted that he wasn’t shocked by the collapse and ensuing bankruptcy of FTX. He stated that in the past he referred to FTX as a “decentralized pyramid scheme.”
To address Tether’s alleged lack of disclosure and dollar support, Jamie noted that US regulators should have stopped the shady activity long ago.
Dimon went on to say that lower-income people, and in some cases the elderly, in particular, lose billions of dollars as a result of unregulated behavior.
As we have reported as Koinfinans.com, JP Morgan continues its developments in the field of blockchain. The giant company, which even introduced the project called JPM Coin, is doing its best to use technology.