#cryptonews
JPMorgan CEO Jamie Dimon has criticized Bitcoin again, claiming it has no intrinsic value and is often misused by bad actors.
He also compared Bitcoin to smoking, saying people may have the right to do it, but that doesn’t make it a good idea. In a Sunday interview with CBS News, Dimon stated: “We are going to have some kind of digital currency at some point.
“I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke.”
I’m not against crypto. You know, Bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware. So, I just don’t feel great about Bitcoin.”
In the past, he has called it a “fraud,” “hyped-up fraud,” “pet rock,” and “worthless.” He has also compared it to speculative bubbles like the Dutch tulip mania. Dimon warns that investors will likely face negative outcomes.
Dimon has consistently argued that Bitcoin lacks intrinsic value. He believes it primarily fuels speculation.
He explained that voters want more pro-business policies. Despite positive signs like low unemployment, controlled inflation, and a booming stock market, Dimon remains cautious. He admits he stays “cautiously pessimistic” about the economy’s outlook.
In another part of the interview, Jamie Dimon said he wasn’t surprised by Donald Trump’s election win.