Jamie Dimon, CEO of JPMorgan Chase, has previously announced that he is not a fan of Bitcoin and has now reiterated his opinion on the world’s most popular cryptocurrency, which it describes as “worthless”. Bitcoin’s impressive performance over the past few weeks seems to have silenced many critics, but Dimon vehemently denies that cryptocurrency is a serious investment. Dimon also stated that as an asset class, cryptocurrency is regulated by governments and that regulation is needed.
Dimon, who has been a vocal critic of Bitcoin in the past, said, “Personally, I think Bitcoin is worthless. But I don’t want to be a spokesman for it, I don’t care. It doesn’t make a difference to me. “The largest bank in the US will, however, offer its customers exposure to Bitcoin,” Dimon said while speaking briefly at the Institute of International Finance’s annual event.
“Our customers are adults. They disagree. That is what defines markets,” said Dimon. “So if they want access to buy bitcoin, we can’t keep them, but we could give them legitimate, as clean access as possible.”
The CEO of JPMorgan has assured that he can now offer his Bitcoin-hungry customers investment opportunities without any problems given their high interest in cryptocurrencies. This appears to be a major shift in Jamie Dimon’s attitude. In 2017, JPMorgan Chase’s CEO claimed he didn’t want any of his employees to trade Bitcoin.
Despite Dimon’s assessments, JPMorgan began providing access to crypto assets for its wealth management clients in July 2021. The CEO’s comments also appear to have impacted Bitcoin’s bullish start of the week, which is getting closer than ever to a new all-time high.
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Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not liable for any loss that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.