Bitcoin

Jamie Dimon: If you borrow money to buy bitcoin, you are a fool

Jamie Dimon, the CEO of one of the largest financial institutions in the world, JPMorgan, has once again taken his tough stance on Bitcoin and cryptocurrencies.

Jamie Dimon – CEO of JPMorgan Chase

Jamie Dimon debated in an interview about the real value of cryptocurrencies and his approach to the world of cryptos interview with the Times of India last week. He explained that the latest bull run in the crypto market was caused by a lot of liquidity in the system, which then led to speculation.

“I’m not a Bitcoin buyer. I think if you borrow money to buy bitcoin, you are an idiot. “

However, Dimon also acknowledged that the value of the cryptocurrency sector could grow tenfold in the coming years.

Regulations and JPMorgan Products

When asked about the influence of regulation on cryptocurrencies in the future, Jamie Dimon emphasized that governments will regulate Bitcoin at some point.

“It is being adjusted. Governments regulate everything. I don’t know if it’s an asset, forex, or currency, and I don’t know if it’s securities laws. But they will do it. “

However, Dimon’s personal opinions on the validity of cryptocurrencies and the upcoming regulation do not change JPMorgan’s business strategy for the crypto sector.

In fact, JPMorgan is now more open to cryptocurrencies than it was two or three years ago. In August, the company announced that it would give its customers access to six crypto-based mutual funds (Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, and Osprey Bitcoin Trust).

In addition, the company has previously dealt with digital currencies. In October 2020, JPMorgan announced the creation of “JPM Coin,” a network that enables its customers to make instant payments using blockchain technology.

In another development, JPMorgan rival Morgan Stanley – the global financial services mogul – continues to increase its exposure to Bitcoin through Grayscale’s BTC trust. In August, the company’s Insight Fund held 928,051 GBTC shares. A recent filing with the SEC revealed that it had purchased an additional 58,116 GBTC shares by July 31.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Mr. Teacher

According to News.Bitcoin

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Coins to Buy Now: Qubetics Sells 200M Tokens to Raise Over $2.7M as Cardano and Avalanche Look to Strengthen Bullish Trend

Best Coins to Buy Now: Qubetics presale raises $2.7M with 200M tokens sold as Cardano…

1 hour ago

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

London, united kingdom, 22nd November 2024, Chainwire

3 hours ago

Robinhood Exec Dan Gallagher Declines SEC Leadership Role

Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…

4 hours ago

Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?

Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…

5 hours ago

Franklin Templeton Digital Assets and Sui Now Join Hands to Strengthen DeFi Strategy

Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.

5 hours ago

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

5 hours ago

This website uses cookies.