James Dimon: Very Smart People Buy Bitcoin, But It’s Not Mine
JPMorgan Chase CEO James Dimon says he hasn’t fundamentally changed his attitude towards Bitcoin in recent years.
“I don’t know if I changed my attitude. We use blockchain. We have JPMorgan Coin, which is a dollar-backed blockchain. You can move money, divide it into parts. We believe in cryptocurrencies that are properly regulated and secured. Bitcoin is a different kind, it’s not mine, “Daimon said at the New York Times’ DealBook on Wednesday..
Daimon added that he would not like to get into the news because of his comments about Bitcoin, since he is not interested in cryptocurrency. At the same time, he noted the high potential of distributed ledger technology: “The blockchain itself will be critical in order to allow people to move money around the world cheaper.”.
JPMorgan Chase CEO also backed billionaire Ray Dalio, who recently suggested that the authorities would not allow Bitcoin to grow uncontrollably and would use their existing mechanisms if the cryptocurrency began to pose a serious threat. “If it gets bigger and bigger and bigger, it will be regulated,” Daimon added..
In the past, the head of the largest American bank has sharply criticized Bitcoin, calling it a fraud, and promised to fire employees who would be caught in cryptocurrency trading. In the latest statement, he acknowledged that bitcoin can be bought by “very smart people” who expect the cryptocurrency to outperform gold, the dollar and government bonds, but noted that he is not considering such an investment for himself..
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