BTC Has No Intrinsic Value: JPMorgan CEO Jamie Dimon

JPMorgan Chase (JPM) CEO Jamie Dimon is nothing if not consistent when it comes to his opinions on Bitcoin (BTC).

“Bitcoin itself has no intrinsic value,” he said in a statement. Interview with CBS News Sunday. “It’s used heavily by sex traffickers, by money launderers, by ransomware. So I don’t feel good about Bitcoin.”

Similar to BlackRock CEO Larry Fink, Dimon has been a long-time opponent of Bitcoin. Unlike Fink — who underwent a 180-degree reversal in his views two years ago — Dimon has continued to hold the same negative outlook even as the bank he leads has benefited from the growing use of bitcoin as a financial product, including serving as an authorized participant. For BlackRock’s Bitcoin ETF.

JP Morgan also recently It renamed its blockchain platformformerly Onyx, has evolved into Kinexys as it aims to multiply real-world coding. The goal, according to JPM’s co-head of payments, Omar Farooq, is to reduce the limitations of existing financial infrastructure, such as real-world asset (RWA) tokenization. The banking giant said in November that it plans to introduce cross-chain foreign exchange capabilities on its platform in the first quarter of 2025.

Damon’s latest statements came a few days before Donald Trump reclaims the presidency of the United States. Trump and his team have promised, and at this point appear determined to provide a friendlier regulatory environment for Bitcoin and cryptocurrencies in general.