JPMorgan’s CEO Jamie Dimon on Bitcoin

JPMorgan’s CEO, Jamie Dimon, continues to express skepticism about Bitcoin despite the growing institutional acceptance of the cryptocurrency. In a recent interview with CBS, Dimon reiterated his negative stance, stating that he does not feel “great” about Bitcoin and dismissing it as having no intrinsic value. He also pointed out that Bitcoin is heavily involved in illegal activities like money laundering.

Dimon has been a longtime critic of Bitcoin, famously calling it a “fraud” in 2017 and threatening to fire any JPMorgan trader who dealt with the cryptocurrency. Although his personal opinion on Bitcoin remains cautious, JPMorgan has nevertheless engaged with the crypto space, launching an in-house Bitcoin fund in 2021 and revealing minor exposure to Bitcoin ETFs last year.

Despite his criticisms, it seems unlikely Dimon will ever embrace cryptocurrency as part of JPMorgan’s core strategy, reflecting his broader conservative view on digital assets. As the 68-year-old billionaire hints at retirement, it’s still unclear who will take over as the next CEO of JPMorgan, with Dimon suggesting he may remain as chairman after stepping down.