Zabira Banner Header

Bitcoin Has No Value And Authorities Will ‘Regulate The Hell Out Of It’, Says JPMorgan CEO

JPMorgan CEO Jamie Dimon
JPMorgan CEO


JPMorgan CEO doubled down on past skepticism of in a TV interview with Axios published on Monday, warning investors that the has no underlying value.

“It’s got no intrinsic value,” said Dimon in response to a question on whether was akin to fool’s gold.

Asked about whether authorities should regulate crypto, Dimon said, “Regulators are going to regulate the hell out of it,” adding that this was more a factual than a moral statement.

ALSO SEE  Jamie Dimon Says Being An American In Abroad Is 'Almost An Embarrassment'

“If people are using it for tax avoidance and sex trafficking and ransomware, it’s going to be regulated, whether you like it or not,” he told Axios.

Dimon was also pressed on his $31 million compensation package, which in July was boosted with around $49 million in JPMorgan share options, according to the Financial Times.

ALSO SEE  $600m Crypto Heist: Hacker Returns Half Of Stolen Assets

The board decides what I make,” he said. “We have a free market in this country, which … everyone should applaud.”

Dimon is a longtime crypto critic who has trashed bitcoin as a “fraud” and a waste of time. In September, the JPMorgan boss said he wouldn’t care if bitcoin’s price shot up even further.

That does not mean it can’t go 10 times in price in the next five years,” Dimon told the Times of India. “I remember when beanie babies were selling for $2,000 a pop. We all know about tulip bulbs.

ALSO SEE  Binance Coin (BNB) Jumps 1,600% in 2021, Crosses Market Cap Of Snapchat

Dimon’s critical remarks come in contrast to growing crypto interest by mainstream financial institutions – including his own JPMorgan. In July, Insider reported that would be the first big bank to execute crypto trades requested by its wealth-management clients.

Join our Telegram Group

Follow talkGlitz on Instagram TalkGlitz on Twitter
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy