JPMorgan Chase (JPM) CEO Jamie Dimon is nothing if not consistent when it comes to his views on Bitcoin (BTC).
“Bitcoin itself has no intrinsic value,” he said in an interview with CBS News on Sunday. “It’s used extensively by sex traffickers, by money launderers, ransoms. So I just don’t feel good about Bitcoin.”
Like BlackRock CEO Larry Fink, Dimon was a longtime opponent of bitcoin. Unlike Fink — who underwent a 180-degree turn in his views a few years ago — Dimon has continued with the same negative outlook, even as the bank he heads has benefited from bitcoin’s growing use as a financial product, including acting as an authorized participant for BlackRock’s spot bitcoin ETF.
JPMorgan also recently rebranded its blockchain platform, formerly Onyx, to Kinexys as it aims to double down on real-world tokenization. The goal, according to JPM’s co-head of Payments Umar Farooq, is to reduce limitations of the current financial infrastructure, such as tokenization of real assets (RWA). The banking giant said in November that it plans to introduce on-chain foreign exchange capability on its platform as soon as the first quarter of 2025.
Dimon’s latest comments came just days before Donald Trump resumed the US presidency. Trump and team have promised and appear intent on delivering a much friendlier regulatory environment for bitcoin and crypto in general.
