CEO of JP Morgan, Jamie Dimon has yet again expressed negative views about Bitcoin and the crypto industry, asking people to stay away from Bitcoin.
Jamie’s bad history with Bitcoin
Despite his organization’s open hand towards the crypto market and he himself admitting to the situation of high demand of cryptocurrencies and products, Jamie Dimon is convincing people that they should stay away from crypto assets.
Jamie Dimon has targeted the crypto market several times before as well and has a really controversial history in regards to digital assets. Previously, Jamie Dimon also suggested regulation authorities to take action and crack down on the cryptocurrency market in ways to regulate it. Jamie also called Bitcoin a ‘fraud’ in the past, while also saying that he is not interested in the digital asset, which ironically has seen an unbelievable growth rate in the past few years.
After apologizing for his rude unappreciated comments about the digital assets, it seems that his frame of mind still hasn’t changed. Jamie continues to express harsh remarks about crypto. During a recent testimony to the United States House Financial Services Committee, Jamie Dimon showed aggression towards crypto, yet again giving his personal advice by stating that people should look away from Bitcoin. Jamie also stated that cryptocurrencies are not even near in comparison to standard currency and gold. Jamie also warned buyers of the potential risks and dangers in investing into the crypto space. In his conclusion, Jamie said that apart from all his feelings towards Bitcoin and other cryptos, he is not the one to tell people how to spend their wealth, meaning that he is not ordering people, but is rather warning people.
JP Morgan’s Interest in entering the Crypto Space
The interesting thing was that Jamie mostly targets Bitcoin and other digital currencies, but it seems that he does not target stablecoins and blockchains, meaning that there is something present in his mind regarding digital assets.
JP Morgan has shown interest in entering the crypto market after visualizing the recent surge in popularity. Jamie said that because of the high levels of demand of crypto, according to reports, the largest Bank in the US is thinking to offer a BTC fund for its customers and clients.