JP Morgan CEO Jamie Dimon recently stated that Bitcoin is a “scam” and “ponzi scheme” while discussing cryptocurrencies. Speaking to Bloomberg TV, Dimon gave his harsh thoughts on the asset’s role in the market.
While Dimon called Bitcoin a scam, he expressed his belief that this digital asset will fail as a currency. However, while discussing the asset’s role in financial markets, he emphasized that BTC can be used for a specific purpose in the modern financial world.
JP Morgan The CEO’s comments about Bitcoin come at a time when the asset is increasingly accepted in the financial industry. The US Securities and Exchange Commission (SEC) approved Spot Bitcoin ETFs and the Bitcoin Halving event was approaching.
Jamie Dimon‘s words were not unexpected in the context of his long-standing harsh stance against BTC. However, JP Morgan’s stance seems to have changed recently. In December, BlackRock acquired JP Morgan Spot Bitcoin ETFIt was announced that he will serve as the Authorized Representative (AP) for .
This reflects the conflict between those who recognize its technological importance but doubt whether it can truly function as a currency. So far, BTC seems to have failed to convince its critics.
