The post JPMorgan’s Jamie Dimon claims he is not against crypto, but likens Bitcoin to smoking appeared on BitcoinEthereumNews.com.

JPMorgan CEO Jamie Dimon compared Bitcoin to smoking in a recent interview, stating he does not condone it. However, he says he is not against cryptocurrency as a whole. In an interview with CBS News on Jan. 12, Dimon has reiterated his stance on Bitcoin (BTC) and cryptocurrency as a whole. Speaking to Lesley Stahl, he claims that he is “not against crypto” but he still believes that Bitcoin has no intrinsic value. In fact, he compared people who use Bitcoin to smokers. Dimon acknowledges their right to trade Bitcoin, but he believes they should not hold it. “So, I just don’t feel great about Bitcoin. I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke,” said Dimon. Moreover, Jamie Dimon declared that he views Bitcoin as a currency mainly used to facilitate criminal activities such as money laundering, sex trafficking and as payment for ransomware. The JPMorgan CEO’s recent statements indicate that though Dimon has softened towards crypto, his stance on Bitcoin specifically has not changed. Even though a report by Crypto ISAC found that cash remains the preferred payment tool for illicit activity. Out of the total volume of estimated criminal transactions, only 0.34% of the transaction volume consists of cryptocurrencies. In addition, the U.S. Treasury also confirmed that cash continues to be the primary method for money laundering due to its anonymous and stable nature. In July 2024, Jamie Dimon was rumored to be Trump’s pick for Secretary of Treasury when he was running for president. Many traders at the time were worried that Dimon’s harsh stance on Bitcoin could spell out the end of crypto in the U.S. Jamie Dimon’s past sentiments on Bitcoin In the past, Jamie Dimon…

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Filed under: News - @ January 13, 2025 10:21 am