Jamie Dimon says Bitcoin has 'no intrinsic value':
The JPMorgan Chase CEO says people have a right to buy and sell Bitcoin — but that they still shouldn't do it
qz.com/jamie-dimon-bitcoin-btc-jpmorgan-chase-crypto-1851737939
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Dimon’s Strong Warning on BitcoinCalls Bitcoin valueless; price topped $100,000 in December and fell under $92,000 by Monday.
- JPMorgan CEO Jamie Dimon stated Bitcoin has no intrinsic value and compared buying it to smoking, advising against its purchase.
- A ChainAnalysis report found bad actors turn to cryptocurrencies because they are cross-border, virtually instant, generally inexpensive to transact and harder to trace.
- Bitcoin more than doubled over the past year, surged above $100,000 in December, then fell back below $92,000 as of Monday.
- The comments came as the incoming Trump administration is expected to take steps to further legitimize digital assets, after Trump accepted crypto donations and vowed a national Bitcoin reserve.
Bitcoin itself has no intrinsic value. It's used heavily by sex traffickers, by money launderers, ransomware. So I just don't feel great about Bitcoin.— Jamie Dimon, CEO of JPMorgan Chase, in a CBS News interview
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