JPMorgan (NYSE: JPM) CEO Jamie Dimon has extended his long-term criticism of Bitcoin (BTC), where he considers the maiden cryptocurrency to lack real-world use cases besides promoting illicit vices such as money laundering.
In his latest stance, Dimon vowed not to offer his opinions about Bitcoin in the future, stressing that his views on the asset are already known. He made the remarks during an interview with CNBC’s Squawk Box on January 17.
Dimon acknowledged that other cryptocurrencies with real-world use cases might exist, unlike Bitcoin, which he referred to as a ‘pet rock.’ However, he emphasized the importance of blockchain technology.
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“This is the last time I’ve ever talked about this [Bitcoin]. Blockchain is real. It’s a technology. We use it, it’s going to move money. <…> There are cryptocurrencies that do something, that might have value. And then there’s one that does nothing, I call it pet rock. The Bitcoin, or something like that,”said Dimon.
Dimon on Bitcoin ETF
Interestingly, in the aftermath of the spot exchange-traded fund (ETF) approval, with the world’s largest investment firm, BlackRock (NYSE: BLK), being a key player, the executive pointed out that he ‘doesn’t care.
“I don’t care. So just please stop talking about this, and, and I don’t know what he {BlackRock] would say about blockchain versus currencies that do something versus Bitcoin that does nothing,” he added.
Dimon also defended individuals’ right to use the cryptocurrency while cautioning against getting involved in the sector.
“I defend your right to do Bitcoin. I think it’s okay. I don’t want to tell anyone of you what to do. My personal advice is don’t get involved. It’s a free country.”
It is worth noting that Dimon has come under criticism from cryptocurrency supporters, considering his expressed desire to shut down the sector.
For instance, in late 2023, while testifying before the United States Senate, Dimon strongly criticized Bitcoin and other cryptocurrencies, advocating for a ban on these digital assets.
His primary criticism has focused on the anonymity of digital assets and their potential to facilitate illegal activities.
