Jamie Dimon, CEO JPMorgan, Bashes Bitcoin Again By Calling Cryptocurrency a ‘Scam’

by | Aug 7, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

JPMorgan | Cryptocurrency news | Jamie Dimon | Bitcoin | Cryptocurrency 'scam'

The on again – off again relationship between Jamie Dimon, the CEO of JPMorgan, and Cryptocurrency welcomes another bashing comment from the former. In a recent speech at the Aspen Institute’s 25th Annual Summer Celebration Gala on Saturday, Dimon calls cryptocurrency a “scam”.

Dimon’s current take on cryptocurrency was part of general comments he made about the U.S. economic outlook during his speech. Soon both the mainstream press and prominent economic sources (online) were repeating/reprinting his words. Notably, Nouriel Roubini, who is also known for his critical stance on Bitcoin, also joined in via a Tweet.

According to Bloomberg, Dimon added:

“suggested governments may move to shut down the currencies [cryptocurrency], because of an inability to control them.”

The finance mogul’s bashing towards Bitcoins or Cryptocurrency is not new, He caused a stir in September 2017 when he called Bitcoin a “Fraud”. Soon, Dimon changed his tact and later said that he “regretted” his choice of words. After this, he maintained a silent stand on the topic and told the reporters,  last October:

“I wouldn’t put this high on the category of important things in the world. But I’m not going to talk about bitcoin anymore.” 

Dimon stayed put to his word and told Cointelgraph, that he “can’t answer” (in a private comment) when asked about his feelings about the movement that came in markets with his earlier Bitcoin “fraud” comments. Then in a recent interview published in the Harvard Business Review, July-August issue, Dimon refused to comment directly on the topic and reiterated “I probably shouldn’t say any more about cryptocurrency.” In the same interview, he called the blockchain technology “real,” and implied that crypto is not.

As illustrated above, JPMorgan and especially Dimon have let our mixed signals wherever Crypto is concerned. While this investment giant is still not decisive about their stand on the matter, Goldman Sachs new CEO David Solomon seems very positive about Bitcoin.


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