{"id":12744,"date":"2024-04-19T15:23:43","date_gmt":"2024-04-19T12:23:43","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-ceo-labels-bitcoin-a-fraud-and-ponzi-scheme\/"},"modified":"2024-04-19T15:23:43","modified_gmt":"2024-04-19T12:23:43","slug":"jpmorgan-ceo-labels-bitcoin-a-fraud-and-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-ceo-labels-bitcoin-a-fraud-and-ponzi-scheme\/","title":{"rendered":"JPMorgan CEO Labels Bitcoin a Fraud and Ponzi Scheme"},"content":{"rendered":"<p>Bitcoin lacks the fundamental qualities to be considered a currency, according to JPMorgan CEO Jamie Dimon in an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-17\/when-jpmorgan-ceo-jamie-dimon-speaks-the-world-listens-video\" title=\"\">Bloomberg<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I have always said that bitcoin is a fraud. [\u2026]. It is [\u2026] a public decentralized Ponzi scheme,&#8221;<\/em> he stated.<\/p>\n<\/blockquote>\n<p>The executive described the first cryptocurrency as a speculative asset and those who consider it a legitimate form of money as misguided.<\/p>\n<p>In the interview, Dimon acknowledged the practical applications of blockchain technology for facilitating efficient transactions and data transfer. He expressed optimism about smart contract platforms like Ethereum.<\/p>\n<p>The JPMorgan CEO has consistently been a staunch critic of digital assets. In October 2021, he declared that bitcoin &#8220;is worthless,&#8221; noting the unpopularity of his opinion. Later, he referred to cryptocurrencies as &#8220;decentralized Ponzi schemes.&#8221;<\/p>\n<p>In January 2024, the financier <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-chief-vows-silence-on-bitcoin\">vowed<\/a> never to speak about digital gold again.<\/p>\n<p>Prior to this, the executive, during a meeting with US lawmakers, called for the implementation of stringent restrictions on cryptocurrencies, urging their &#8220;closure.&#8221;<\/p>\n<p>Earlier, Dimon questioned the 21 million coin limit on bitcoin&#8217;s issuance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin lacks the fundamental qualities to be considered a currency, according to JPMorgan CEO Jamie Dimon in an interview with Bloomberg. &#8220;I have always said that bitcoin is a fraud. [\u2026]. It is [\u2026] a public decentralized Ponzi scheme,&#8221; he stated. The executive described the first cryptocurrency as a speculative asset and those who consider [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1283,1138],"class_list":["post-12744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-jamie-dimon","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12744"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12743"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}