It’s hard to find too many neutral feelings about bitcoin from prominent people in finance and economics.
Some are huge fans, that feel that crypto currency is here to stay and the value of bitcoin will continue to grow.
Others, like JPMorgan Chase & Co CEO Jamie Dimon hate it.
He told a group at a crypto conference this week he things bitcoin is “worthless,” and he also shared his thoughts that regulation of it is coming.
“No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax.”
As the leader of the largest bank in the U.S., Dimon’s opinion carries weight. He’s been a loud and proud critic of bitcoin for years, and at one point referred to the trendy crypto as a “fraud.”
While he seems to not be a fan, JP Morgan gave their wealth management clients access to crypto funds this summer.
So, while Dimon doesn’t like bitcoin, he respects the fact some of his clients can have a different opinion.
“I personally think that bitcoin is worthless. I don’t think you should smoke cigarettes either.
“Our clients are adults. They disagree. If they want to have access to buy or sell bitcoin – we can’t custody it – but we can give them legitimate, as clean as possible access.”
Whether you like his opinion or not, it’s cool he’s as outspoken and passionate as he is. Kind of a rarity for someone in his position.
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