JPMorgan Chase & Co. CEO Jamie Dimon has been skeptical of bitcoin and cryptocurrencies for years now.
JPMorgan Chase & Co. JPM Chairman and CEO Jamie Dimon has been skeptical of bitcoin and cryptocurrencies for years now. Back in 2017, he denounced bitcoin as a “fraud” and said he would fire any JPM employees caught dabbling in cryptocurrencies.
He’s produced a steady stream of downbeat commentary since then, maintaining his skeptical outlook regardless of bitcoin’s price, and even as JPM explored business opportunities in the crypto space. During the middle of last year’s epic crypto bull run, he slammed bitcoin as “worthless.” The term “pet rocks” was once used by markets gurus to criticize gold, an asset that has struggled this year due to its lack of a yield. Dimon and others have at times repurposed the term to slam bitcoin — which has at times been called “digital gold” — and its peers.
To be sure, Dimon caveated his cryptocurrency criticism by saying that he still believed in the benefits of blockchain technology and “Web 3.0.”
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