President of the largest US bank says bitcoin is “not worth it”

The chief executive of JPMorgan Chase, Jamie Dimon, said on Monday (11) at a conference that cryptocurrencies will be regulated by governments and that he personally believes that the bitcoin “not worth it”.

“No matter what anyone thinks about it, the government will regulate. They’re going to regulate for purposes of anti-money laundering, for purposes of bank secrecy law, for taxing,” Dimon said during an online event hosted by the International Finance Institute.

Dimon, president of the largest bank in the U.S, has been a severe critic of digital coins, even calling bitcoin a fraud, though he later said he regretted the statement.

In the middle of this year, JPMorgan gave wealth management clients access to trust funds. cryptocurrencies, which means that the bank’s financial advisers can accept buy and sell orders from customers for five cryptocurrency products.

Saying that his views are different from those of the bank and its board, Dimon said he remains skeptical. “I personally think bitcoin is not worth it,” he said. “I also think you shouldn’t smoke cigarettes.”

“Our customers are adults. They disagree. If they want access to buying or selling bitcoins – we can’t keep it – but we can give them legitimate access, as clean as possible,” he said.

Bitcoin did not register an immediate reaction to Dimon’s comments. The cryptocurrency was up 5% on the day, to US$ 57,304.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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