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JPMorgan CEO Jamie Dimon warns people to be careful when investing in crypto, citing no intrinsic value” – News
The CEO of global investment bank JPMorgan has warned investors against investing in cryptocurrencies. "Cryptocurrency has no intrinsic value. You're essentially buying a token," he said. “I would be very careful.” JPMorgan Chief Executive Jamie Dimon Warns Against Investing in Crypto JPMorgan Chase and Co (JPM.N) Chief Executive Officer Jamie Dimon shared his thoughts on the US economy, inflation, China and cryptocurrency in an interview with CBS Boston published on Wednesday. He was asked whether young people should invest in crypto in reference to several commercials that encourage investors to invest money in cryptocurrencies such as commercials with Tom Brady and...
JPMorgan CEO Jamie Dimon warns people to be careful when investing in crypto, citing no intrinsic value” – News
The CEO of global investment bank JPMorgan has warned investors against investing in cryptocurrencies. "Cryptocurrency has no intrinsic value. You're essentially buying a token," he said. “I would be very careful.”
JPMorgan boss Jamie Dimon warns against investing in crypto
JPMorgan Chase and Co (JPM.N) Chief Executive Officer Jamie Dimon shared his thoughts on the US economy, inflation, China and cryptocurrency in an interview with CBS Boston published on Wednesday.
He was asked whether young people should invest in crypto in reference to several commercials encouraging investors to invest money in cryptocurrencies such as: Advertising with Tom Brady and his wife Gisele Bündchen.
“I’m a skeptic,” Dimon replied. "I mean, blockchain is real if we use it for certain things. Parts of defi (decentralized finance) are real." However, the JPMorgan boss emphasized:
Cryptocurrency has no intrinsic value. You are essentially buying a token. Why there's so much of it I don't know, and I think there's so much speculation about stocks and securities and crypto and things like that. I would be very careful.
Still, Dimon said, "I defend the people's right to do it in a free country. I won't do it."
On Tuesday, Reuters also reported that Dimon commented on cryptocurrency. “It’s not really a currency… It’s hysteria,” the JPMorgan CEO was quoted as saying.
Dimon has always been a Bitcoin skeptic. In October he said that Bitcoin “ worthless " and questioned the cryptocurrency's limited supply. He also said that regulators " regulate to hell with it.” In May he advised people Stay away of cryptocurrency.
However, the JPMorgan CEO acknowledged that his customers interested in this asset class and the bank now offers its customers some crypto investments.
The company's analysts even doubled theirs forecast that Bitcoin price will reach $146,000 in the long term. You see a “ bullish outlook ” for Bitcoin as inflation concerns depress the price of BTC higher.
What do you think of JPMorgan CEO Jamie Dimon's warning? Let us know in the comments section below.
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