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JPMorgan Chase CEO Jamie Dimon Claims Clients Are Interested in Bitcoin

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Tue, 05/04/2021 - 13:26
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Alex Dovbnya
JPMorgan Chase CEO Jamie Dimon says he's not a Bitcoin supporter
JPMorgan Chase CEO Jamie Dimon Claims Clients Are Interested in Bitcoin
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During The Wall Street Journal's CEO Council summit, JPMorgan Chase CEO Jamie Dimon said that the clients of America's largest bank are interested in Bitcoin.

His comments come after it was reported that JPMorgan would introduce a Bitcoin fund this summer.

However, despite his bank embracing the largest cryptocurrency, Dimon continues to dismiss it, explaining that it is not his job to decide what JPMorgan's clients are doing with their money.

I don't tell clients what to do. That's their job, not my job (to decide what they want to do with their money).

Dimon sticks to the pro-blockchain narrative while reiterating that he is not interested in the technology's main use case:

Blockchain is real, we use it...But people have to remember that a currency is supported by the taxing authority of the country, by military authority, by rule of law, a central bank, which meant not to debase it...I am not a Bitcoin supporter...I have no interest in it.

Still, the billionaire banker's rhetoric appears to be much softer compared to 2017 when he vowed to instantly fire any traders dealing with Bitcoin since it was "worse than tulip bulbs."

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Inflation is real

Dimon claims that there will be inflation due to "enormous" quantitative easing, predicting that the Federal Reserve will have no choice but to increase interest rates.

You gonna have inflation...Let's just look at the facts.

Speaking of the booming U.S. equities market, he claims that it is pricing in a very strong economy.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.