Jamie Dimon Insists Bitcoin Doesn’t Have Value as JPMorgan Teams up With Blackrock on Spot Bitcoin ETF

JPMorgan Chase CEO Jamie Dimon has insisted that bitcoin doesn’t person value, emphasizing that its usage cases are enactment trafficking, taxation avoidance, wealth laundering, and coercion financing. However, JPMorgan has teamed up with Blackrock to assistance the world’s largest plus manager turn its spot bitcoin exchange-traded money (ETF) arsenic a pb authorized participant.

Jamie Dimon Insists Bitcoin Has No Value

The CEO of JPMorgan Chase, Jamie Dimon, inactive believes that bitcoin has nary worth adjacent arsenic the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs) connected Wednesday. In an interrogation with Fox Business connected Wednesday, Dimon expressed:

I’ve ever said that bitcoin doesn’t person worth … The existent usage cases are enactment trafficking, taxation avoidance, wealth laundering, coercion financing.

The JPMorgan executive’s remark echoed his connection made during a Senate Banking Committee’s proceeding successful December past year. In effect to a question by U.S. Senator Elizabeth Warren (D-MA), Dimon said: I’ve ever been profoundly opposed to crypto, bitcoin, etc. You pointed retired the existent usage lawsuit for it is criminals, cause traffickers, anti-money laundering, taxation avoidance.” He besides said that helium would close down crypto if helium were the government.

Meanwhile, JPMorgan has teamed up with Blackrock arsenic a pb authorized participant for the world’s largest plus manager’s spot bitcoin ETF, the Ishares Bitcoin Trust. JPMorgan is besides named arsenic an authorized subordinate for the Invesco Galaxy Bitcoin ETF.

Blackrock’s Ishares Bitcoin Trust was among the 11 spot bitcoin ETFs approved by the SEC connected Wednesday. The money volition commercialized connected the Nasdaq banal speech nether the ticker awesome IBIT. The NYSE Arca and the Cboe BZX Exchange volition besides database and commercialized immoderate approved spot bitcoin ETFs.

When bash you deliberation JPMorgan CEO Jamie Dimon volition alteration his caput and spot the worth of bitcoin? Let america cognize successful the comments conception below.