Bitcoin could rise tenfold in the next five years, but that’s not a reason to buy it. JPMorgan CEO Jamie Dimon said this in an interview with Times of India.
During the discussion, the executive expressed confidence that the first cryptocurrency will come under regulatory oversight, which will limit it to some extent.
“I don’t care about Bitcoin. People spend too much time and energy on it. Will regulation destroy the first cryptocurrency, I don’t know. Authorities will set the framework anyway. That doesn’t mean Bitcoin can’t rise tenfold in price in the next five years. But if you invest borrowed money, you’re a complete fool. Speculation arises in any market, even in communist countries. There is a lot of liquidity right now; I wouldn’t be surprised by anything.”, — he noted.
Earlier, the JPMorgan CEO has repeatedly criticised cryptocurrencies, vowed to fire employees trading digital assets, and called Bitcoin holders fools.
In early May, acknowledged client interest from the bank in digital gold, but maintained his scepticism about the asset.
In August, according to the media, JPMorgan, together with NYDIG launched a fund based on the first cryptocurrency for wealthy clients.
Earlier, the bank opened access to three Grayscale Investments funds and the Osprey Bitcoin Trust for subscribers of the asset-management arm’s services.
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