Jamie Dimon, the CEO of JPMorgan Chase has described cryptocurrency as “scam” expressing his disinterest in it. According to a 5th August report by Bloomberg, Dimon on the previous day attended 25th Annual Summer Celebration Gala organised by Aspen Institute. In this event, he made critical comments on cryptocurrency, in general and Bitcoin [BTC], in particular.
The media has been swift enough to spread the comments and Nouriel Roubini, a prominent American economist expressed his views online which aligned with Dimon’s. In the initial phase of the year, Roubini has also expressed his critical viewpoints on the top most digital currency in the crypto space. However, Bloomberg’s report has also suggested that Dimon has stated that, “governments may move to shut down the currencies [cryptocurrency], because of an inability to control them.”
Dimon’s previous comments on cryptocurrency
Previously, in September last year he has termed Bitcoin a “fraud.” Later Dimon stated that he “regretted” for describing the virtual currency in such an appropriate manner. However, addressing the reporters he commented in October, 2017, “I wouldn’t put this high on the category of important things in the world. But I’m not going to talk about bitcoin anymore.”
Considering the previous experiences, in the July August edition of Harvard Business Review, Dimon denied to comment on digital currencies. He has tactfully managed the question on cryptocurrency stating, “I probably shouldn’t say any more about cryptocurrency.”
However, in his view, blockchain technology is “real” and JPMorgan “will use it for a whole lot of things.” Perspectives on cryptocurrencies have always varied with JPMorgan representatives. In May, 2018 the co-president of the bank commented that virtual currencies, “are real but not in the current form.”
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