JPMorgan CEO Jamie Dimon Continues to Criticize Bitcoin

Specifically in the interview, he stated that Bitcoin is “worthless” and a “currency of crime.”

NEW: JP Morgan CEO Jamie Dimon says "#Bitcoin doesn't have value."

Meanwhile, JP Morgan is an authorized participant for BlackRock's spot #Bitcoin ETF 👀 pic.twitter.com/W5MWONMOOE

— Bitcoin Magazine (@BitcoinMagazine) January 10, 2024

I don’t care what other people do with Bitcoin,” Dimon said in the televised interview. “But… the actual uses are for kidnappings, tax evasion, money laundering, terrorist funding; not just people buying and selling Bitcoin. It has no value if you’re trading Bitcoin.

Dimon’s criticism of Bitcoin is not new. Last year, he told lawmakers that if he were in the government, he would shut down the use of cryptocurrencies.

I’ve always been a skeptic of cryptocurrencies, Bitcoin, etc.,” Dimon said during a Senate Banking Committee hearing. “If I were the government, I would stop it.

In 2021, JPMorgan’s CEO also disparaged Bitcoin.

Personally, I think Bitcoin is worthless,” Dimon said in 2021. “Our clients are adults. They disagree, that’s what makes markets, so if they want to have access to buy Bitcoin, we can’t stop them but we can give them legitimate, cleanest access possible.

His comments come shortly before the SEC approved 11 applications for Bitcoin Spot ETFs. Specifically, on January 11th (Vietnam time), the U.S. Securities and Exchange Commission (SEC) officially announced the approval of 11 Bitcoin spot exchange-traded funds (ETFs) from major representatives on Wall Street.

Related: The US SEC Officially Approves Spot Bitcoin ETF

The approved companies include Ark Invest, BlackRock, Bitwise, VanEck, WisdomTree, Invesco & Galaxy, Fidelity, and Valkyrie.