News - JP Morgan boss on Bitcoin: "Stop talking about this junk"

By Luc Vesters

JP Morgan boss on Bitcoin: "Stop talking about this junk"

Bitcoin (BTC)
ETF

Jamie Dimon spoke again about Bitcoin in an interview with CNBC. Asked about the approval of spot ETF's, the JP Morgan boss began a tirade against the world's biggest cryptocurrencies - and all their derivatives.

"The real use cases are sex trafficking, tax evasion, anti-money laundering and terrorist financing," Dimon said. "I've always said Bitcoin has no value."

He hopes this is the last time he addresses CNBC on the subject: "Stop talking about this junk." After all: Dimon admitted that blockchain has value; it has been used for years at JP Morgan - except: cryptocurrencies. Even though he is not a fan, he said, "I defend your right to use Bitcoin." Whistleblower Edward Snowden countered on X.

JP Morgan is one of the largest investment banks in the world. Your boss Jaimie Dimon portrays himself as a cryptohater. But behind the scenes at the bank, things look different. Cryptocurrencies are traded. The company also runs its own blockchain network called Onyx. One of the users is Siemens.

On its blockchain, BlackRock and other banks have a proprietary platform built for asset tokenization. The bank's analysts expect that Ethereum will greatly surpass it by 2024.

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