JPMorgan CEO Jamie Dimon Reiterates Bitcoin Criticism, Calls It a Tool for Criminals

Dimon acknowledges blockchain’s utility but maintains Bitcoin has no intrinsic value and is heavily used for illicit activities.

Jamie Dimon, CEO of JPMorgan Chase, stated in a CBS News interview that Bitcoin lacks intrinsic value and is frequently used by criminals, including sex traffickers and money launderers.
Dimon contrasted his stance on Bitcoin with his support for blockchain technology, which JPMorgan actively uses for financial and data transactions.
Despite Dimon’s criticisms, JPMorgan holds investments in Bitcoin exchange-traded funds, reflecting some exposure to cryptocurrency markets.
Bitcoin’s price surged over 120% in 2024, surpassing $100,000 in December before retreating to below $93,000 as of Monday.
The incoming Trump administration has signaled a favorable stance toward cryptocurrency, with plans to legitimize digital assets and position the U.S. as a global crypto leader.