Jamie Dimon, known for his criticism of Bitcoin, cited concerns about its association with illegal activities while acknowledging the right of individuals to invest in cryptocurrencies.
JPMorgan CEO Jamie Dimon now appears ready to support the right of individuals to buy Bitcoin (BTC) after years of sustained criticism.
In a recent interview with CNBC, Dimon highlighted the ongoing issues surrounding the involvement of cryptocurrencies in illicit activities such as fraud and terrorism. Despite these concerns, he emphasized his willingness to defend the right of individuals to purchase cryptocurrencies, although he personally seems reluctant to do so.
“I don't know the purpose of bitcoin itself, but I defend your right to smoke a cigarette, and I will defend your right to buy bitcoin. I personally would never buy bitcoin at all.”
Jamie Damon
This is Dimon's second public discussion on Bitcoin this year, following his previous statement in January where he said he was done talking about cryptocurrencies:
“This is the last time I talk about this [Bitcoin] With CNBC, help me God.”
Jamie Dimon speaks with CNBC at the 2024 World Economic Forum in Davos
However, his latest statements appear to contradict previous statements, such as his assertion in December 2023 that he would shut down Bitcoin and other cryptocurrencies if he represented the American people. The statement came during a congressional hearing in response to concerns raised by Senator Elizabeth Warren, an outspoken critic of cryptocurrencies, regarding cryptocurrency regulation and compliance. However, as Chaina Analysis previously highlighted, less than 1% of cryptocurrency transactions are actually linked to illegal activities.
At the time of writing, Bitcoin is trading at $72,110, representing a year-to-date increase of more than 70%, according to data from Yahoo Finance.
