Jamie Dimon, CEO of JPMorgan Chase, expresses perpetual reluctance to purchase Bitcoin, citing uncertainty regarding its utility
Jamie Dimon, CEO of JPMorgan Chase, expressed at the Australian Financial Review Business Summit in New York that he defends everyone’s right to buy Bitcoin, but he himself will never buy it and doesn’t understand what Bitcoin is used for.
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Recommended Fed Rate Cut After June
Jamie Dimon: Doesn’t Understand the Use of Bitcoin
Recommended Fed Rate Cut After June
According to CNBC, Jamie Dimon first discussed the US economy at the summit. He personally holds an optimistic view but also worries about inflation and potential economic recession.
The following points were made:
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The Fed should wait until after June to cut interest rates to strengthen the central bank’s credibility in combating inflation.
The US economy is performing strongly, but market expectations for an economic soft landing may be too optimistic.
The probability of an economic recession is around 65%, and the occurrence of stagflation cannot be ruled out.
The recent rise in bond and stock markets exhibits bubble characteristics, partially due to fiscal and monetary stimulus measures during the pandemic.
Jamie Dimon: Doesn’t Understand the Use of Bitcoin
Despite JPMorgan Chase being an Authorized Participant in Bitcoin spot ETF, Jamie Dimon has consistently criticized Bitcoin, including claims that Bitcoin is mainly used for illegal activities such as money laundering and illicit transactions.
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Exclusive: Full Analysis of Bitcoin Spot ETF Trading: JPMorgan Chase Actually Has Bullish Bitcoin Positions?
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In this statement, he said:
“I don’t know what Bitcoin itself is used for, but I defend your right to smoke, and I defend your right to buy Bitcoin. Personally, I will never buy Bitcoin.”
Dimon also discussed the application of AI and emphasized that JPMorgan Chase has 2,000 employees assisting the bank in integrating over 400 AI use cases. He also uses AI at home to summarize books that he doesn’t have time to read.
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JPMorgan Chase CEO: Actual Use of Bitcoin is Money Laundering, Satoshi Nakamoto Will Change the Total Supply Limit
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Jamie Dimon
Bitcoin
Further Reading
Noah Ark Fills JPMorgan Chase CEO’s Knowledge Gap, Cathie Wood: Even Satoshi Nakamoto Cannot Control Bitcoin.
