JPMorgan’s CEO Doesn’t “Give A Sh*t” About Bitcoins

By Rishma Banerjee

JP Morgan Chase a multinational investment bank, and financial services company is United States’ largest bank, and the world’s sixth largest bank, by total assets with an amount of 2.53 trillion USD. However, it seems that its CEO Jamie Dimon is haunted by the subject of cryptocurrency. The only difference is that this is spectre is not paranormal but mostly technological. He has been known to be critical of Bitcoins, which is a cryptocurrency, founded by Satoshi Nakamoto.

Bitcoin celebrates its tenth birthday on Halloween, this year, and it was on this fateful occasion that a video of Dimon surfaced on the net, which shows him, being the recipient of another such unsolicited visitation from the cryptocurrency.

At the Axion conference in Los Angeles on Tuesday, he was asked about the reason for his sudden change of mind regarding bitcoins. To this, he doubled down on his original statement and said not only had he not changed his mind, but he also did not “give a sh*t about the same.

He said:

“I never changed what I said, I just regret having said it. I didn’t want to be the spokesman against bitcoin. I don’t really give a sh*t, that’s the point, okay? Blockchain is real, it’s technology, but bitcoin is not the same as a fiat currency.”

He over the years have always been quite vocal about his disdain of Bitcoins, and have described it, sometimes as a “fraud”, a “waste of time” and sometimes as an asset that is “worth nothing”, and a “stupid” investment with “no actual value”. As is understandable, he carries the torch for the “blockchain not bitcoin” school.

In spite of all of this, and the CEO’s mostly disgruntled viewpoint about Bitcoins, JPMorgan has begun exploring the world of cryptocurrency, stating on record that the asset class is “unlikely to disappear” and could “disrupt” the entire banking industry.