In a recent interview with CNBC’s Squawk Box, JPMorgan CEO Jamie Dimon has once again expressed his skepticism towards Bitcoin, the largest cryptocurrency in the market. This new wave of criticism comes despite JPMorgan’s involvement as an authorized participant (AP) for BlackRock’s Bitcoin ETF.
JPMorgan CEO Calls Bitcoin A “Pet Rock”
During the interview, Dimon acknowledged the potential of blockchain technology, describing it as efficient and capable of moving money and data. However, Dimon distinguished cryptocurrencies, stating that some possess tangible use cases while others, such as Bitcoin, do not.
Dimon likened Bitcoin to a “pet rock,” suggesting it lacks practical value beyond being a speculative asset. JPMorgan CEO stated:
There are cryptocurrencies that do something that might have value. And then there’s one that does nothing, I call it pet rock. The Bitcoin, or something like that
The JPMorgan CEO emphasized that certain cryptocurrencies can facilitate
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