Despite growing institutional acceptance, Jamie Dimon, CEO of JPMorgan, hasn’t embraced Bitcoin yet.
In a recent conversation with CBS, a prominent banker expressed his dissatisfaction towards Bitcoin, arguing that it lacks any inherent worth or value.
Furthermore, he pointed out that Bitcoin is frequently employed for illicit activities like money laundering and criminal transactions.
One longstanding critic of Bitcoin among prominent bankers is this individual, who continues to express doubts about Bitcoin even as it becomes more mainstream within institutions. As far back as 2017, Dimon declared that any JPMorgan trader handling Bitcoin would be dismissed from the company, labeling it a “fraud.” More recently, he advised against investing in Bitcoin personally.
In simpler terms, Dimon has likened Bitcoin to smoking again – he thinks individuals should be allowed to purchase it, but he doesn’t consider it a wise choice.
Although Jamie Dimon himself has been cautious about Bitcoin, JPMorgan Chase launched an internal Bitcoin investment vehicle in 2021. Previously, the bank had disclosed a minimal involvement with Bitcoin Exchange-Traded Funds.
It seems unlikely that Dimon is going to embrace cryptocurrency as the CEO of JPMorgan.
As a researcher, I’ve observed that the 68-year-old leader of the largest U.S. bank, who’s been in this position for nearly two decades, has dropped hints about upcoming retirement during a recent interview. Intriguingly, Dimon suggested he might continue as the bank’s chairman post his departure from the CEO role.
For now, it is not clear who is going to spearhead JPMorgan after Dimon’s departure.
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2025-01-13 09:11