Jamie Dimon of JP Morgan said that Bitcoin, in a statement made recently by the CEO to continue his position against it. “fraud” A “Ponzi scheme” When discussing the crypto currency. While speaking to Bloomberg TV, Dimon was blunt in his assessment of the value of the asset on the market.
Dimon called Bitcoin scams and said he expected it to fail among those who believed it was a currency. He did, however, discuss the use of the asset, and noted that it serves a modern purpose. financial market.
You may also like: JP Morgan: 78% of Institutional Traders Not Interested in Crypto
JP Morgan’s CEO says Bitcoin has no hope as a currency
Bitcoin is the new star of 2024. financial sector. The US Securities and Exchange Commission has approved in January the first Spot Bitcoin Exchange-Traded Funds. Moreover, Bitcoin Halving will take place this coming week.
Many of those who are against it remain unconvinced by its success. Jamie Dimon of JP Morgan, the CEO who recently called Bitcoin “a scam”, is among them. “fraud” A “Ponzi Scheme” In a recent interview with Bloomberg.
You may also like: JP Morgan Warns of a Major Recession in the US With 8% Interest Rates
“If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon was on Bloomberg TV’s program last week. “If they think they’re a currency, there’s no hope for it. It’s a Ponzi scheme” He added. Nevertheless, he also discussed the function that the token might serve in modern financial markets.
Dimon’s stance against Bitcoin is not changed by this statement. This statement is different from JP Morgan’s previous stance. BlackRock announced, in December 2018, that they would act as Authorized Participant (AP) to its Spot Bitcoin exchange-traded fund.
Bitcoin watchers and Bitcoin investors are in a constant state of conflict. Some acknowledge its technological significance to the development of the industry. But they continue to maintain that this is not an effective currency. Up to this point, tokens have not stopped proving their doubters wrong.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
