JPMorgan CEO Jamie Dimon criticized the leading cryptocurrency Bitcoin. Dimon called Bitcoin a scam and compared it to a pyramid scheme. Dimon targets Bitcoin for its anonymity. Therefore, he says, it has the potential to enable money laundering, tax evasion and terrorism. JPMorgan analysts warn of a potential Bitcoin price crash after the halving.
Heavy salvos from Jamie Dimon to the leading cryptocurrency!
JPMorgan CEO Jamie Dimon expressed his skepticism about Bitcoin in an interview on Bloomberg TV. Dimon said he does not consider Bitcoin a real currency. He also called it a scam. He noted that Bitcoin is not a cryptocurrency and that it is appropriate to compare it with a pyramid scheme. However, Dimon’s view contradicts the recent fluctuations in BTC’s price.
cryptokoin.comAs you follow from , Jamie Dimon has been drawing attention to illegal activities that have long been associated with Bitcoin. He claims that BTC facilitates crimes such as money laundering, tax evasion, and terrorist financing. However, Dimon supports investors’ right to invest in Bitcoin. He describes it as a risky choice, like smoking. Dimon’s view reveals a nuanced view that emphasizes preserving consumer investment choices despite personal skepticism.
Full marks to Blockchain applications from JPMorgan CEO!
Jamie Dimon does not think that areas of cryptocurrency technology other than Blockchain are promising. Dimon notes that tokens that perform a real function, such as those used in smart contracts, can have real value. This appreciation demonstrates his belief in the underlying blockchain technology that powers many cryptocurrencies and has far-reaching applications beyond just currency.
According to Jamie Dimon, the use of Blockchain is very beneficial in executing smart contracts and transaction transparency. Dimon states that Blockchain has the potential to change some aspects of commerce and information management. It also says it is in line with emerging developments in the financial services industry.
JPMorgan: The leader expects the cryptocurrency price to fall!
According to JPMorgan analysts, the halving event is already priced in. Therefore, analysts predict that the Bitcoin price will drop after the halving. JPMorgan analysts led by Nikolaos Panigirtzoglou reiterated similar views in a report published Wednesday. In this context, analysts said, “We do not expect an increase in BTC prices after the halving as it is already priced. “In fact, we predict a decline for the Bitcoin price after the halving for various reasons,” they said.
These reasons include that Bitcoin is still in “overbought conditions.” Analysts also say the cryptocurrency’s price is still well above JPMorgan’s volatility-adjusted price of gold at $45,000. They also note that the post-halving production cost of $42,000 remains above the projected cost. Despite the revival in crypto, the stagnation in crypto venture capital financing so far this year could also drag down the BTC price after the halving, analysts say.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!