Bitcoin is worthless, says Jamie Dimon, chairman and CEO of investment bank JPMorgan Chase. He spoke at the Institute of International Finance (IIF) event on Monday, October 11, RBC Crypto reports citing CNBC.
“I do not care. For me, this (bitcoin – ed.) Does not matter. Our clients are adults. They disagree. But that’s how markets work. Therefore, if they want to be able to buy bitcoin, we cannot store it, but we can provide legal and transparent, as far as possible, access, ”said Daimon.
In August, the investment bank provided wealthy clients with access to its own bitcoin fund. According to Coindesk sources, the passively managed bitcoin fund was launched by JPMorgan in partnership with NYDIG (New York Digital Investment Group).
Also in July, JPMorgan became the first of the largest American investment banks to provide clients with access to cryptocurrency funds. Since July 19, JPMorgan financial advisors have been able to offer their clients investments in four Grayscale funds (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust), as well as in the Osprey Bitcoin Trust.
At the same time, Daimon regularly criticizes cryptocurrencies. For example, in October, he once again stated that bitcoin has no intrinsic value. And in May, he urged to stay away from cryptocurrencies, speaking at a meeting of the House of Representatives Financial Services Committee.
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