JPMorgan CEO: Bitcoin Is "Worthless"
JPMorgan CEO Jamie Dimon took a shot at Bitcoin during the Institute of International Finance (IIF) Annual Membership meeting, claiming that the largest cryptocurrency is worthless:
I personally think Bitcoin is worthless
He went on to question the cryptocurrency’s scarcity and implied that the cryptocurrency’s hard cap of 21 million coins could be changed:
I'll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don't know, I've always been a skeptic of stuff like that.
When asked why Dimon allows his clients to have exposure to Bitcoin, the billionaire banker compared investing in the benchmark crypto to trading cigarettes:
I don't think you should smoke cigarettes either, but our clients are adults.
Earlier today, Bitcoin surpassed the $57,000 level for the first time since May 12.Source