{"id":9911,"date":"2024-01-18T13:04:46","date_gmt":"2024-01-18T11:04:46","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-chief-vows-silence-on-bitcoin\/"},"modified":"2024-01-18T13:04:46","modified_gmt":"2024-01-18T11:04:46","slug":"jpmorgan-chief-vows-silence-on-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-chief-vows-silence-on-bitcoin\/","title":{"rendered":"JPMorgan Chief Vows Silence on Bitcoin"},"content":{"rendered":"<p>JPMorgan CEO Jamie Dimon has once again criticized digital assets, dismissing the first cryptocurrency as useless.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;There are cryptocurrencies that do something, that might have value. And then there&#8217;s one that does nothing, I call it pet rock. The <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>, or something like that,&#8221; says <a href=\"https:\/\/twitter.com\/jpmorgan?ref_src=twsrc%5Etfw\">@JPMorgan<\/a> CEO Jamie Dimon. &#8220;It has some use cases. Everything else is people trading among themselves.&#8221; <a href=\"https:\/\/t.co\/EnUBuIEHkI\">pic.twitter.com\/EnUBuIEHkI<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1747598755233218884?ref_src=twsrc%5Etfw\">January 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;There are cryptocurrencies that do something and have value. And there are cryptocurrencies that do nothing, I call them <span data-descr=\"The Pet Rock \u2014 a popular 1970s toy resembling a stone with glued-on eyes, created by US marketer Gary Dahl. The term later came to mean something pointless\" class=\"old_tooltip\">&#8216;pet rocks&#8217;<\/span>. That&#8217;s bitcoin and other similar assets,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>Dimon noted that while he does not wish to restrict others from using the first cryptocurrency, he personally advised &#8220;not to get involved.&#8221;<\/p>\n<p>In his view, the only uses for bitcoin are &#8220;money laundering, fraud, human trafficking, and tax evasion.&#8221; However, he expressed support for projects involved in the tokenization of real assets.<\/p>\n<p>When asked about the involvement of financial giants like Fidelity and BlackRock in <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-predicts-shift-from-gbtc-to-other-bitcoin-etfs\">bitcoin trading through spot ETFs<\/a>, the JPMorgan chief responded that he &#8220;doesn&#8217;t care.&#8221; Previously, BlackRock <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1980994\/000143774923035559\/bit20231227_s1a.htm\">identified<\/a> the company as one of the &#8220;authorized participants&#8221; of its iShares Bitcoin ETF (IBIT).<\/p>\n<p>Following his conversation with journalists, Dimon promised never to discuss bitcoin on live broadcasts again.<\/p>\n<p>The CEO of JPMorgan has always been a staunch opponent of digital assets. In October 2021, he declared that bitcoin &#8220;is worthless,&#8221; acknowledging the unpopularity of his opinion. He later described cryptocurrencies as &#8220;decentralized Ponzi schemes.&#8221;<\/p>\n<p>In January 2023, Dimon questioned the 21 million coin limit on bitcoin&#8217;s issuance.<\/p>\n<p>Back in December, the top executive, during a meeting with US lawmakers, called for the implementation of stringent restrictions on digital assets, urging their &#8220;shutdown.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan CEO Jamie Dimon has once again criticized digital assets, dismissing the first cryptocurrency as useless. &#8220;There are cryptocurrencies that do something, that might have value. And then there&#8217;s one that does nothing, I call it pet rock. The #Bitcoin, or something like that,&#8221; says @JPMorgan CEO Jamie Dimon. &#8220;It has some use cases. Everything [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9910,"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":[18,1283,229],"class_list":["post-9911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-jamie-dimon","tag-jpmorgan"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9911","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=9911"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/9910"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=9911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=9911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=9911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}