Reported by Vinay Patel

Jamie Dimon, CEO of JPMorgan Chase, recently reaffirmed his strong criticism of Bitcoin, calling it a “decentralized Ponzi scheme” and a “fraud.”

In an interview with CBS News’ Lesley Stahl, Dimon maintained his skeptical stance, questioning Bitcoin’s value. “We are going to have some kind of digital currency at some point,” he remarked, hinting at a broader shift in the financial landscape.

‘I’m not against crypto. You know, bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware.’ Dimon has previously dismissed cryptocurrencies as having the utility of ‘pet rocks’ and has called Bitcoin a fraudulent Ponzi scheme.

In an interview posted Sunday, Dimon expressed his reservations about Bitcoin, stating, ‘I just don’t feel great about Bitcoin.’ He compared investing in Bitcoin to smoking, acknowledging personal freedom but emphasising its potential harm.

Read full report: https://www.ibtimes.co.uk/jpmorgan-chase-ceo-says-bitcoin-used-heavily-sex-traffickers-money-launderers-ransomware-1730061