JP Morgan CEO Says “Bitcoin Is Worthless”

Written By Guest User

Full article by Liam Kelly found here

  • Jamie Dimon, CEO of JP Morgan, voiced his opinion on Bitcoin during the recent annual meeting for the Institute of International Finance.

  • “I personally think Bitcoin is worthless” said Dimon. It is yet another addition to his negative statements regarding the cryptocurrency over the years. Dimon first spoke on Bitcoin back in 2014, saying that it was “a terrible store of value” and could be “replicated over and over”.

  • A recent tweet by Ryan Selkis, founder of Messari, outlined the history of Dimon’s statements on Bitcoin.

Screenshot 2021-10-12 at 09-58-10 Ryan Selkis on Twitter.png

  • Bitcoin has increased by over 7,027% since Dimon’s first comments in 2014 when it was trading at about $800 dollars.

  • This latest utterance indicates a disagreement with JP Morgan’s clients and the CEO, where clients are increasingly wanting exposure to the growing market. “Our clients are adults, they disagree, that’s what makes markets, so if they want to have access to buy yourself Bitcoin, we can’t custody it but we can give them legitimate, as clean as possible access” said Dimon.

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