By In an interview with the news channel CNBC, Jamie Dimon, the chief executive at JPMorgan Chase & Co., expressed his disinterest in bitcoin and his intention to no longer discuss the cryptocurrency. This comes after the recent debut of several bitcoin exchange traded funds by Wall Street giants, including BlackRock and Fidelity.
While Dimon continues to acknowledge the potential of blockchain technology, he emphasizes that bitcoin itself does not offer any value. He recognizes that certain types of cryptocurrencies based on blockchains that enable smart contracts may have practical applications, particularly in areas such as real estate transactions and data management.
However, Dimon believes that bitcoin does not fall into this category. Although the Bitcoin blockchain supports smart contracts, its functionality is significantly limited compared to other blockchains like Ethereum.
Despite his reservations about bitcoin, Dimon maintains that he is not imposing his views on others. He advises against getting involved in bitcoin but asserts, “It’s a free country.”
These recent comments align with Dimon’s previous criticism of bitcoin, where he referred to it as a “a hyped-up fraud” and “a pet rock.”
Comments