JPMorgan CEO Jamie Dimon compared Bitcoin to smoking in a recent interview, noting that he does not condone it. However, he says he is not against cryptocurrencies as a whole.

In an interview with CBS News On January 12, Dimon reiterated his position on Bitcoin (Bitcoin) and cryptocurrencies as a whole. Speaking with Lesley Stahl, he claimed that he is “not against cryptocurrencies” but he still believes so Bitcoin It has no intrinsic value.

In fact, he compared people who use Bitcoin to smokers. Dimon acknowledges their right to trade bitcoin, but believes they should not keep it.

"So, I don't feel good about Bitcoin. I applaud your ability to want to buy it or sell it. Just as I think you have the right to smoke, but I don't think you should smoke," Dimon said.

Furthermore, Jamie Dimon announced that he views Bitcoin as a currency primarily used to facilitate criminal activities such as money laundering, sex trafficking, and paying for ransomware. Recent statements by JPMorgan's CEO suggest that despite Dimon's softening towards cryptocurrencies, his stance on Bitcoin specifically has not changed.

Although a a report Crypto ISAC found that cash remains the preferred payment instrument for illicit activities. Of the total estimated criminal transaction volume, only 0.34% of the transaction volume consists of cryptocurrencies. In addition, the US Treasury also emphasized that cash remains the primary method of money laundering due to its anonymous and stable nature.

In July 2024, Jamie Dimon was rumored to be Trump He chooses For Secretary of the Treasury when he was running for president. Many traders at the time were concerned that Dimon's harsh stance on Bitcoin could spell the end of cryptocurrencies in the United States.

Jamie Dimon's past feelings about Bitcoin

In the past, Jamie Dimon has described Bitcoin as a “fraudulent” currency, believing it to be a conduit for tax evasion, criminals and drug dealers. At one point, Damon said he would do it closing Bitcoin if he holds a government position.

Dimon has been vocal about his opposition to Bitcoin since early 2014. In 2014, Dimon said that Bitcoin was a "bad store of value", arguing that it could be easily replicated "over and over again" and lacked the legitimacy of government-backed institutions. Currencies.

He even said he would fire JPMorgan traders if they were found to be buying and selling Bitcoin. Although he claimed in March 2024 that he would be willing to supports The right of an individual to buy Bitcoin.

Despite his staunch opposition to Bitcoin, Dimon supports blockchain technology, praising it on multiple occasions. Even more surprising is the fact that Dimon's bank, JPMorgan Chase, is an approved participant in BlackRock's spot Bitcoin ETF, iShares Bitcoin Trust.