CEO of Largest US Bank Expresses Negative Opinion on Cryptocurrency
[Asia Economy Reporter Kim Suhwan] Jamie Dimon, CEO of JP Morgan, the largest bank in the United States, expressed a negative view on Bitcoin.
On the 4th (local time), at the 'CEO Council' event hosted by The Wall Street Journal (WSJ), CEO Dimon said, "I am not a supporter of Bitcoin. I have no interest in Bitcoin at all."
CEO Dimon stated, "Blockchain is real and we utilize it," but emphasized, "However, people need to remember this point: currency must be backed by a country's tax authorities, rule of law, and central bank."
This is not the first time CEO Dimon, considered one of the most influential figures on Wall Street, has criticized Bitcoin.
In September 2017, at an event, CEO Dimon called Bitcoin a "fraud" and compared it to the 17th-century Dutch tulip mania. At that time, he also warned, "Bitcoin will eventually not work and will not end well."
The following January, appearing on Fox Business, he expressed regret over calling it a "fraud," but maintained his stance of having "no interest in Bitcoin."
However, CEO Dimon said, "On the other hand, customers are interested (in Bitcoin)," and added, "I do not tell customers what to do."
JP Morgan is reportedly planning to launch a Bitcoin fund for wealthy clients soon.
The company announced plans to launch a digital currency called 'JPM Coin' in February 2019, and last October, it also established a department for blockchain projects.
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