JPMorgan Chase (JPM) CEO Jamie Dimon is nothing if not constant on the subject of his views on Bitcoin (BTC).
“Bitcoin itself has no intrinsic worth,” he mentioned in an interview with CBS Information on Sunday. “It’s used closely by intercourse traffickers, by cash launderers, ransomware. So I simply don’t really feel nice about Bitcoin.”
Just like BlackRock CEO Larry Fink, Dimon was a longtime opponent of bitcoin. Not like Fink — who underwent a 180 diploma reversal in his views a few years in the past — Dimon has continued holding the identical damaging outlook even because the financial institution he leads has profited off of bitcoin’s rising use as a monetary product, together with serving as a licensed participant for BlackRock’s spot bitcoin ETF.
JPMorgan additionally lately rebranded its blockchain platform, previously Onyx, to Kinexys because it goals to double down on actual world tokenization. The purpose, in response to JPM’s co-head of Funds Umar Farooq, is to cut back limitations of the present monetary infrastructure, like tokenization of real-world belongings (RWA). The banking large mentioned in November that it plans to introduce on-chain international alternate capabilities on its platform as quickly as the primary quarter of 2025.
Dimon’s most up-to-date feedback got here simply days forward of Donald Trump reassuming the U.S. presidency. Trump and staff have promised and at this level seem set on delivering a far friendlier regulatory surroundings for bitcoin and crypto basically.