Jamie Dimon says he’s not anti-blockchain but is trading arms on Bitcoin again – it has no intrinsic value: “I don’t feel good about…” – Grayscale Bitcoin Mini Trust (BTC) Undivided Fractional Beneficial Interest (ARCA) Common Units: Bitcoin)

Jamie DamonCEO of the banking giant JP MorganHe reiterated his critical position on… Bitcoin Bitcoin/US Dollar Realizing the importance of blockchain technology.

What happened: In an interview with CBS News on Sunday, Dimon praised blockchain’s role in facilitating the transfer of money and data and acknowledged that JPMorgan was also using the technology.

“It will have uses,” he said of blockchain, but lamented that much of the focus in the past 10 to 15 years has focused solely on Bitcoin.

Dimon went on to say that while he was not against cryptocurrencies in general, Bitcoin had no “intrinsic value” in his opinion.

Known for Takes unbalanced Regarding the world’s leading cryptocurrency, the CEO of the world’s most valuable bank added, “It’s used heavily by sex traffickers, money launderers, and ransomware, so I don’t feel good about Bitcoin.”

See also: Chitoshi Kusama explains the utility of the TREAT token before its launch, and optimistic whales buy Shiba Inu

Why it matters: Although the use of cryptocurrencies for illicit purposes is not discussed, it is not just Bitcoin that has facilitated this.

Unsealed court documents from November 2024 revealed how both Bitcoin and the US dollar-backed stablecoin work pregnancy USD/USD They were used by drug gangs To launder money.

Furthermore, the US Treasury, in its 2024 National Money Laundering Risk Report, Recognized The use of virtual assets for money laundering is still much lower than the use of fiat currency.

Meanwhile, JP Morgan, despite its CEO’s concerns, is vulnerable to Bitcoin price movements.

According to its most recent 13F filings, the bank held approximately $65,000 worth of Bitcoin ETF shares, with significant investments in… iShares Bitcoin Trust ETF Ebit and Fidelity Wise Origin Bitcoin Fund FBTC.

Price action: At the time of writing, Bitcoin is trading at $93,771.79, down 0.59% over the past 24 hours, according to Data from Benzinga Pro.

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