JPMorgan CEO Jamie Dimon slammed Bitcoin as “dirty” and “expensive” while speaking at the Institute of International Finance meeting in Washington earlier this Thursday.
The 66-year-old executive says that he will “never” buy cryptocurrencies after repeatedly criticizing them in the past.
Dimon is convinced that cryptocurrencies do not actually do anything. "I don't know why there's value to that," he said.
As reported by U.Today, the JPMorgan boss called Bitcoin “worthless” last October.
Dimon, however, remains bullish on blockchain. The famous banker believes that technology could “disintermediate” certain parts of banking.Speaking of the U.S. economy, Dimon has expressed his doubt regarding the U.S. Federal Reserve’s ability to pull off a much-coveted soft landing. At the same time, Dimon claims that he has “total faith and trust” in Fed Chair Jerome Powell, describing him as an “extremely high caliber individual.”
The banker predicts that the benchmark interest rate will go above 4.5% due to hotter-than-expected inflation.
The JPMorgan boss predicts that the U.S. equities market could lose another 30% during the ongoing correction.