Jamie Dimon Dismisses Bitcoin Again, Calls It 'A Pet Rock'

• JPMorgan CEO Jamie Dimon Voices Criticism on Bitcoin
• Dimon's Remarks on Bitcoin
• The 'Do as I Say, Not as I Do' Situation
• Big Players in Asset Management and Bitcoin
• JPMorgan's Role in BlackRock's iShares Bitcoin ETF

JPMorgan CEO Jamie Dimon Voices Criticism on Bitcoin

On a recent public appearance, JPMorgan CEO Jamie Dimon highlighted his objections to Bitcoin$42,260 -0.64% (BTC). His personal counsel is against engagement with the cryptocurrency. His concerns include potential use for money laundering, fraud, sex trafficking, and tax evasion.

Dimon's Remarks on Bitcoin

During an interview with CNBC, Dimon reiterated his views on Bitcoin. Previously, he had urged Senator Elizabeth Warren in a Congressional testimony to take steps against the cryptocurrency. He emphasised that his personal advice is to avoid involvement in it. However, he maintains that he respects individual freedom to engage with Bitcoin.

The 'Do as I Say, Not as I Do' Situation

Despite his criticism of Bitcoin, Dimon seemed positive about other cryptocurrencies, noting that they present opportunities for creative uses such as tokenization of actual-world assets.

Big Players in Asset Management and Bitcoin

When asked about the participation of asset management behemoths like Fidelity and BlackRock in Bitcoin through spot ETFs, Dimon's response was indifferent. He stated that this would be the last time he discusses Bitcoin publicly.

JPMorgan's Role in BlackRock's iShares Bitcoin ETF

Despite Dimon's professed apathy about spot ETFs, it is noteworthy that JPMorgan has a significant role in BlackRock's iShares Bitcoin ETF (IBIT), acting as one of the fund's authorized participants.

Edited by Jonathan Stoker