JPMorgan Chase CEO Jamie Dimon reiterated his strong skepticism toward Bitcoin on April 18, calling it a “fraud” and a “Ponzi scheme” despite the lender’s involvement in BlackRock’s spot BTC exchange-traded fund (ETF).
Dimon, who has a history of critiquing the digital currency, made the latest comments during an interview on Bloomberg TV, where he expressed doubts about Bitcoin’s utility and legitimacy as a form of money.
He said:
“Bitcoin and similar cryptocurrencies are simply not functional as currencies. If they think they’re a currency, there’s no hope for it. It’s essentially a Ponzi scheme dressed up as tech innovation.”
Despite the JP Morgan CEO’s long-standing criticism of Bitcoin, the lender has been serving as an Authorized Participant for BTC ETFs since their launch and has been involved in several blockchain-based projects for numerous years.
Dimon acknowledged the potential of certain aspects of blockchain technology during the interview, partic
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