JPMorgan chief Jamie Dimon urges investors to steer clear of Bitcoin

JPMorgan chief Jamie Dimon reiterated his scepticism about digital assets during testimony before Congress before the House Financial Services Committee of the U.S. Congress.

“My personal advice to people: steer clear of cryptocurrencies. That doesn’t mean JPMorgan clients won’t be able to invest in Bitcoin. I don’t smoke marijuana, but if it were legalized nationwide, I won’t stand in anyone’s way,” Dimon said.

Earlier, the JPMorgan CEO has repeatedly criticised cryptocurrencies, pledged to fire employees trading digital assets, and labelled Bitcoin holders as fools.

Earlier in May, Dimon acknowledged client interest in the bank’s digital gold, but stressed his persistent scepticism towards the asset.

At the end of April, JPMorgan together with DBS and Temasek of Singapore announced the development of an industry platform based on DLT technology for interbank payments, trading and settlements in foreign currencies.

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