{"id":72850,"date":"2023-01-20T14:26:07","date_gmt":"2023-01-20T12:26:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72850"},"modified":"2025-09-09T10:42:02","modified_gmt":"2025-09-09T07:42:02","slug":"jpmorgan-chief-questions-bitcoin-supply-cap-of-21-million-coins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-chief-questions-bitcoin-supply-cap-of-21-million-coins\/","title":{"rendered":"JPMorgan chief questions Bitcoin supply cap of 21 million coins"},"content":{"rendered":"<p>JPMorgan chief Jamie Dimon, on CNBC, said he was not confident that Bitcoin&#8217;s issuance is truly limited to 21 million coins.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;How do you know? It could reach 21 million, and Satoshi&#8217;s photo would surface to laugh at all of you,&#8221; he speculated.<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/decrypt.co\/119612\/bitcoin-supply-21-million-jamie-dimon-jp-morgan\">Decrypt<\/a> reminded that in October 2022 the top executive expressed skepticism about the code baked into Bitcoin&#8217;s algorithm.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bruh it&#8217;s like 5 lines of code. <a href=\"https:\/\/t.co\/DWxPHFsgJs\">https:\/\/t.co\/DWxPHFsgJs<\/a> <a href=\"https:\/\/t.co\/ssripW7tVy\">pic.twitter.com\/ssripW7tVy<\/a><\/p>\n<p>\u2014 Jameson Lopp (@lopp) <a href=\"https:\/\/twitter.com\/lopp\/status\/1447608372065357828?ref_src=twsrc%5Etfw\">October 11, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With the programmed <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-bitcoin-halving\">halvings<\/a>, reaching the 21-million cap is expected by 2141, the Bitcoin Core developer Luke Dash Jr. told the publication.<\/p>\n<p>Earlier, Blockworks analyst Dan Smith said the current Bitcoin model is unsustainable, reducing the prospects of digital gold becoming a global reserve currency. The reason lies in the low share of <a href=\"https:\/\/forklog.com\/en\/news\/2022-in-figures-bitcoin-crash-ftx-collapse-and-the-rise-of-l2-solutions\">transaction revenues<\/a> in Bitcoin miners&#8217; overall revenue.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">2\/<\/p>\n<p>Bitcoin has never generated meaningful transaction revenue relative to its security budget, heavily subsidizing security with block rewards.<\/p>\n<p>The current model is unsustainable, weakening its likelihood of becoming the global reserve currency.<\/p>\n<p>\u2014 Dan Smith (@smyyguy) <a href=\"https:\/\/twitter.com\/smyyguy\/status\/1612866626965368832?ref_src=twsrc%5Etfw\">January 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The JPMorgan chief has not been the first to criticise Bitcoin and other cryptocurrencies. In October 2021, he said that <a href=\"https:\/\/forklog.com\/en\/news\/jamie-dimon-calls-bitcoin-worthless-and-his-stance-unpopular\">digital gold &#8220;is worth nothing&#8221;<\/a>, and noted the unpopularity of his view.<\/p>\n<p>In September 2022, Dimon described cryptocurrencies as <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-chief-jamie-dimon-calls-cryptocurrencies-decentralised-ponzi-schemes\">&#8220;decentralized Ponzi schemes&#8221;<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan chief Jamie Dimon, on CNBC, said he was not confident that Bitcoin&#8217;s issuance is truly limited to 21 million coins.<\/p>\n","protected":false},"author":1,"featured_media":72851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1283,1138],"class_list":["post-72850","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":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72850","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=72850"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72850\/revisions"}],"predecessor-version":[{"id":72852,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72850\/revisions\/72852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72851"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}