Bitcoin is a “no brainer”, according to the CEO of the giant bank

The CEO of JPMorgan, known for his negative views on digital currencies, especially Bitcoin (BTC), delivered the largest cryptocurrency.

Speaking at the Institute for International Finance event, Jamie Dimon, President and CEO of JPMorgan Chase, said, “I think Bitcoin is worth nothing,” CNBC reported in October.

Dimon, whose opinion on cryptocurrencies was taken, said he did not want to express his opinion on the matter and said, “I don’t care. It doesn’t mean anything to me.” On his clients who want to buy cryptocurrencies, he said:

“Our clients are adults. They disagree. That is what makes the market the market. If they want access to buy Bitcoin, we cannot store the digital currency in our system, but we can provide our clients with legitimate information and so clean access as possible “.

In the shared news, it was recalled that the US government has entered the regulatory process for cryptocurrencies. As is known, the Biden administration has entrusted federal institutions with the task of working on the cryptocurrency market and making recommendations on the matter.

JPMorgan started developing a digital currency called JPM Coin and launched a new unit for blockchain projects in October 2020.

Still, Dimon remains anti-crypto in his own way. As reported by Cointelegraph, Dimon said that Bitcoin cannot be compared to fiat money and gold, and that regulators should create a legal framework for cryptocurrencies.

Related: Risk Engineering Professor Gave Bitcoin Money

He recently said that Bitcoin “has no real value.” He thinks that Bitcoin will continue to exist in the long term, but “it will be outlawed in different regions, just like China has banned it.” This is why he calls Bitcoin “silly gold”.

Dimon also suggested that “regulators will screw Bitcoin up with regulations.”

On the other hand, in the newsletter that JPMorgan shared with its clients last week, it was said that the most important factor behind the recent surge in the price of BTC was institutional investors who wanted to hedge against inflation.

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