JPMorgan CEO: There is no currency without tax authority

Charlie Taylor

Jamie Dimon, the CEO of investment bank JPMorgan, reaffirmed his opinion of Bitcoin, acknowledging that the bank's customers are interested in the cryptocurrency: “I don't tell customers what to do”, he further emphasized that he doesn't care about the currency.

Jamie Dimon doesn't care about Bitcoin, but his customers do!

The CEO talked about the currency during the Wall Street Journal CEO Council summit on Tuesday. Reaffirming his opinion on bitcoin Dimon said: “I am not a bitcoin supporter, and in fact I don't care about bitcoin… I have no interest in that.” Knowing that his comments on the subject would draw attention, Dimon said he hopes to receive many emails after that. This reminds us of when in 2017 the CEO called bitcoin a fraud, but later regretted it.


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While JPMorgan's CEO does not support bitcoin, his bank has started some actions that will involve cryptocurrencies. In March, JPMorgan launched a cryptocurrency investment product that manages to track public companies that have purchased bitcoin, allowing the client to invest indirectly. There are rumors that the bank will soon give its customers access to buy bitcoin through its platform. Demon admitted that JPMorgan's customers are interested in bitcoin, stating:

"On the other hand, customers are interested and I don't tell customers what to do … They want to be able to put it in statements, they want to be able to buy and sell."

"If we can help them do these things very safely, with all the appropriate disclosures, then, you know … it is not my job to decide what they will do with their money," said the CEO of JPMorgan. An increasing number of companies are putting bitcoin on their balance sheets, such as Microstrategy, Tesla and Square.Daniel Pinto, co-president of JPMorgan, explained in February that he is sure that the demand for bitcoin "will be (there) at some point". The executive added that "If over time an asset class develops that will be used by different asset managers and investors, we will have to be involved." Meanwhile, Dimon is pro-blockchain. “Blockchain is real. We use it, ”shared the CEO. “But people need to remember that a currency is held by a country's tax authority, the rule of law, a central bank. ”JPMorgan recently highlighted three reasons to invest in bitcoin after its analysts predicted that the price of the cryptocurrency could reach US $ 146 thousand dollars with the heating of competition with gold. The company subsequently reduced its bitcoin price estimate to $ 130 thousand dollars, but said that customers can put 1% of their wallets on BTC. In April, Dimon said that cryptocurrencies are emerging issues that need to be addressed quickly.See also: Blockchain yes, Bitcoin no Misjudgment

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