JPMorgan CEO Jamie Dimon Calls Bitcoin a “Scam”


Having called the leading cryptocurrency a fraud in the past, now, JPMorgan CEO Jamie Dimon calls Bitcoin a “scam.” Yet, he has also been noticed saying that he is not a “sceptic” in regards to cryptocurrencies. Where is the truth?

7 August, AtoZ Markets The CEO of the JPMorgan Chase, Jamie Dimon has once again criticized Bitcoin in his comments. This time around, he has called the leading cryptocurrency a “scam,” having previously called it a “fraud.” 

JPMorgan CEO Jamie Dimon Calls Bitcoin a “Scam”

Just yesterday, we have reported that Mr. Dimon has stated that fiat payment apps are “the biggest potential disruption to our business.” Harward Business Review has asked Mr. Dimon about his views regarding JPMorgan Chase’s competitive threats. He has named “new forms of payment” as one of them. 

However, Mr. Dimon did not mention cryptocurrency as a potential threat. Nevertheless, when he was asked about his opinion on cryptos, he has replied:

 “I probably shouldn’t say any more about cryptocurrency.” 

Now, some of the online reports quote Mr. Dimon calling Bitcoin a “scam” and saying he had “no interest” in it during the Aspen Institute’s 25th Annual Summer Celebration Gala on Saturday.

As per online reports, Dimon has also “suggested governments may move to shut down the currencies [cryptocurrency], because of an inability to control them.” 

Jamie Dimon About Crypto

In fact, Dimon’s stance on digital currencies has been evolving constantly, as he has been expressing mixed opinions regarding Bitcoin and its underlying technology. After having called Bitcoin a “fraud” back in September 2017, he has stated that he “regretted” his choice of words:

“I wouldn’t put this high on the category of important things in the world. But I’m not going to talk about bitcoin anymore.”

Then, in January, he decided to avoid answering questions concerning cryptocurrency in his public speeches. Yet, that time, he has noted that he was “not a skeptic” regarding cryptocurrency.

Following these remarks, we have seen a number of uncertain signals from JPMorgan Chase, with the co-president of the company Daniel Pinto stating that cryptocurrencies “are real but not in the current form.” He has also added that JPMorgan executives have been “looking into” the crypto industry at a time when Goldman Sachs has revealed its plans regarding the offering of Bitcoin futures. 

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