Jamie Dimon, CEO of Global Investment Bank JPMorgan, said Bitcoin was actually “worthless”, questioning whether the supply of Bitcoin was actually limited. He further noted that blockchain and stable currencies could be real, emphasizing that governments are going to control the industry.
Bitcoin is priceless and supply cannot be stopped, advises JPMorgan CEO Jamie Dimon
JPMorgan chief executive Jamie Damon on Monday reiterated his anti-Bitcoin stance at the 2021 annual membership meeting of the Institute of International Finance (IIF), which was virtually held.
“Blockchain can be real, stable currency can be real,” Dimon said. “Whatever anyone in the room thinks, what a freedom fighter thinks, or what anyone thinks about it, the government will control.” He commented:
I personally think Bitcoin is worthless.
But, “I don’t want to be a spokesperson. I don’t care it doesn’t make any difference to me, ”he added.
Still, the JPMorgan boss insisted: “Our clients are adults. They disagree. That’s what creates the market, so if they want access to buy their own bitcoin, we can’t protect it but we can give them legitimate, as clear, access as possible.”
JPMorgan CEO has long been a Bitcoin skeptic. Earlier this month, he said bitcoin had no underlying value and regulators would “control the hell out of it.” In May, he advised people to stay “away” from cryptocurrency. Despite Daemon’s anti-crypto stance, JPMorgan is currently offering clients several cryptocurrency investments.
Demon It is known The lack of bitcoin, in particular, raised questions about the supply of 21 million coins in cryptocurrency:
I’ll just challenge the group on another topic: How do you know it ended at 21 million? Have you all read the algorithm? Do you all believe it? I don’t know, I’ve always been skeptical of such things.
Many took to Twitter to comment on Damon’s statement about the BTC supply. Some people have expressed that they cannot believe that Daemon actually made the statement above, others have posted the code for JPMorgan executives to view.
Coinbase CEO Brian Armstrong simply tweeted: “Yeah, I read that. And then I wrote it down (our own bitcoin node coding) to make sure I understood it.
Mike Novograts, CEO of Galaxy Digital, commented: “Very strange. A man who has done a brilliant job running a huge bank, his answers around BTC are complicated and he continues to put double pressure on them. I pray I will be open all my life. ”
“Never blame violence that is adequately explained by stupidity,” writes Eric Vurhis, founder of Shapeshift. “Even the richest, most influential people in the world are ignorant about bitcoin,” said Stephen Cole, a venture investor.
What do you think of Jamie Damon’s comments about Bitcoin? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, WikiCommons
Denial: This article is for informational purposes only. It is not a direct offer or request for a purchase or sale offer, nor is it a recommendation or approval of a product, service or company. Bitcoin.com does not offer investment, tax, legal or accounting advice. The Company or the Author is not directly or indirectly responsible for any loss or damage caused by or in connection with the use or reliance on any content, product or service referred to in this article.