JPMorgan’s Jamie Dimon issued a stern warning about Bitcoin, urging potential investors to be careful. On the other hand, VanEck’s strategy advisor made an important statement regarding spot BTC ETFs.
Jamie Dimon embraces Blockchain, not Bitcoin!
JPMorgan CEO Jamie Dimon warns investors about Bitcoin in his latest interview with CNBC. Dimon advises them not to get involved with BTC. In this context, the famous CEO said, “I defend your right to invest in BTC… No problem. I don’t want to tell you what to do. “My personal advice is not to get involved in this.” says.
Dimon says that if a cryptocurrency has a smart contract embedded in it, it’s plausible that it has value. In this vein, it supports the idea of tokenization with real-life use cases such as real estate. “There are cryptocurrencies that do things,” Dimon said. It stands to reason that these would have some value. And then there are those who do nothing. I call it pet-rock. BTC or something like that.” says. So the JPMorgan boss embraces the idea of Blockchain, not Bitcoin, but the technology that underpins it. Dimon: “Blockchain is real. It’s a technology. We use it… Efficiently.” says.
However, Dimon claims that Bitcoin is mostly used for fraud and money laundering. “This is its use case. “Everything else is people trading among themselves,” he adds.
Crypto ban call
cryptokoin.comAs you’ve been following from , Jamie Dimon has long been a vocal critic of cryptocurrencies. His skepticism dates back to at least 2017, when he famously called Bitcoin a “scam” and predicted its eventual demise. Dimon’s criticisms of cryptocurrencies are based on their lack of regulation and the potential for illegal activity. Additionally, Dimon expresses concerns about excessive price fluctuations. Despite Bitcoin’s growing mainstream acceptance, Dimon’s stance has not softened. At a recent Senate hearing, he suggested that the government should ban Bitcoin.
Gabor Gurbacs’ critical Bitcoin ETF prediction
Gabor Gurbacs of VanEck, a spot-based Bitcoin ETF issuer, recently shared his thoughts on BTC exchange-traded products approved by the US Securities and Exchange Commission. First, he outlined the entire “story” of how the current BTC market managed to produce spot BTC ETFs. He made some statements that these new products will increase access to Bitcoin in the market. In this context, he made a bullish prediction for BTC. Gurbacs believes that with the SEC giving the green light to the new Bitcoin-based product, access to Bitcoin for traditional capital holders who have avoided purchasing Bitcoin directly for various reasons will increase 10-50 times within a year.
Gabor Grubacs expects cash flows and merger and acquisition activity for spot Bitcoin ETFs to face a significant increase. VanEck’s crypto advisor says financial institutions also want “a piece of the BTC pie.” That’s why they launched spot ETFs, he notes.
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