The cryptocurrency is “heavily” used for unlawful activities, Jamie Dimon has claimed.
JPMorgan Chase CEO Jamie Dimon has argued that Bitcoin lacks intrinsic value and is widely used for illicit activities, adding that he does not “feel great” about the leading cryptocurrency.
Dimon, a longstanding critic of crypto, compared investing in Bitcoin to smoking, saying that while individuals have the right to do so, it is not advisable. “I applaud your ability to want to buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke,” he remarked in an interview with CBS on Sunday.
“Bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware,” he stated.
Despite his critical stance on Bitcoin, Dimon acknowledged the potential of crypto and blockchain technology. He noted that JPMorgan is already utilizing blockchain for various applications, and recognized the legitimacy of stablecoins – digital currencies tied to other assets. “Blockchain is real. It’s a technology. We use it. It’s going to move money. It’s going to move data. It’s efficient.”
Dimon has previously expressed skepticism over Bitcoin. In the past, he has referred to it as a “fraud” and a “decentralized Ponzi scheme.” However, under his leadership, JPMorgan bank has launched its own digital coin, JPM Coin, and has been involved in blockchain-based projects to enhance payment systems.
Dimon’s comments follow a surge in Bitcoin’s value. In 2024, its price jumped 121%, reaching an all-time high of $108,135 in December. Since then, the cryptocurrency has experienced a correction, briefly falling below $90,000 in early January. As of Tuesday, Bitcoin had rebounded and was trading at more than $96,000.
Created in 2009, Bitcoin allows people to send and receive money over the internet without relying on traditional banks or governments. The price is primarily affected by supply, market demand, availability, competing cryptocurrencies, and investor sentiment. Bitcoin’s supply is limited – there is a finite number of Bitcoins that can be mined, and the final coins are projected to be mined in 2140. It is often referred to as “digital gold” because of its limited supply and store-of-value properties.
Image credit: Traxer
Good for me not for yee.
https://youtu.be/93JOquT0pjo
Blythe Master. The inventor of “credit default swap” . Provoked the financial crisis ( 2008) which is still going on . Protegee of Dimon.
Banks are still going bankrupt one after another. Bankrupcies are the reason of mergers. So that the public ” does not panic. For how long ??
Bitcoin has no intrinsic value?
NEITHER DOES THE PRIVATE BANK-ISSUED ‘FEDERAL RESERVE NOTES’ WHICH ARE FIAT AND BOGUS, COURTESY OF THE ROTHSCHILD J3WI$H BANKING SYSTEM OF INTEREST AND TALMUDIC USURY!!!!
Trump is even indicating that he will issue an EO or PDD using Bitcoin to pay-off the fake ‘National Debt’.
Whys is the U.S. deficit fake?
Because the Federal Reserve Notes that replaced U.S. Treasury Notes beginning in 1913 is useless and worthless paper.
The Federal Reserve Note has no gold, silver, platinum, or diamond backing the currency.
Look for the J3wi$h-owned private bank known as ‘The Federal Reserve Bank’ to try backing the Federal Reserve Notes with Bitcoins…
When the U.S. Dollar (Federal Reserve Note System) is finally abandoned bu other nations, (as is happening right now…) look for the Noahide Law Globalists to implement CBDC’s to replace ‘currencies’.
And when that happens, you will be subjected to total loss of banking privacy, and run the risk of being cut-off from your bank via ‘Social Credit’ and incorrect ‘Political Views’.
ALL of this while you receive 3 pieces of clothing per year, have lost your car due to ‘Climate Change Legislation(s)’ that has outlawed the use of the same, and living in a :15 minute prison city monitoring you from sidewalk to toilet!!!
You’ll be fed soylent steaks, bug flour, and poisonous highly-processed food.
Growing your own veggies?…OUTLAWED! Collecting rain water for personal use?…OUTLAWED! Bartering in an underground economy?…OUTLAWED!
These restrictions are NOT futuristic; Jabby banned bartering, and selling food at Farmers markets throughout N.Z…and these restrictions are fully in place in the Pacific Northwest of the U.S..
If you’re not already prepped, you’re essentially running the risk of eventual death.
How do you explain THAT to your children? (NOT ‘kids’).