Jamie Dimon reiterated his negative stance on bitcoin, saying it serves as the “fool’s gold of the future.” He also opined that the entire cryptocurrency industry will inevitably be put under a regulatory framework.
Bitcoin Has No ‘Intrinsic Value’
The Chief Executive Officer of JPMorgan Chase & Co. – Jamie Dimon – is, by all means, a cryptocurrency critic. During a recent interview for HBO, he gave his reasons why he is against the asset class.
He scratched the hot topic about China’s total ban on bitcoin mining and trading. Dimon believes that this move proved that BTC is illegal. As such, people should not consider it as digital gold:
“I’ve always believed it’ll be made illegal someplace like China made it illegal, so I think it’s a little bit of fool’s gold.”
Jamie Dimon, Source: Bloomberg
With this opinion of gold and bitcoin, Dimon stands in opposition to numerous other prominent names that have backed the cryptocurrency because of its similarities
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