UPDATED 8:27 AM PT – Tuesday, October 12, 2021
JPMorgan CEO, Jamie Dimon recently doubled down on his hesitation toward Bitcoin. During a virtual event Monday, he said he personally finds the cryptocurrency “worthless.”
The big bank head has been open about his skepticism of Bitcoin, even referring to the new technology as a “fraud” and “fools gold.” In the meeting, Dimon then drew the comparison of bitcoin to smoking cigarettes, but ultimately said it makes no difference what he believes.
“I don’t think you should smoke cigarettes either,” he asserted. “Our clients are adults. They disagree. That’s what makes markets. So, if they want to have access to buy yourself bitcoin, we can’t custody it, but we can give them legitimate as clean as possible, access.”
There is a market with $50B+ of daily volume trading 24/7/365 that has #Bitcoin priced at $56,750 and a market cap of $1,000,000,000,000+.
Sure doesn’t seem worthless to us… pic.twitter.com/JqABfm27jm
— Bitcoin (@Bitcoin) October 12, 2021
Despite Dimon’s criticism of Bitcoin, JPMorgan has begun offering clients access to six cryptocurrency products.