Apr 18, 08:50 PM

JPMorgan CEO Calls Bitcoin 'Fraud', Despite Bank's Bitcoin ETF Role

Jamie Dimon, CEO of JPMorgan Chase, has reiterated his critical stance on Bitcoin, labeling it a 'fraud' and a 'Ponzi scheme' in various statements. He emphasized that Bitcoin has no future as a currency and described it as a 'public, decentralized Ponzi scheme.' Despite these strong criticisms, it's noteworthy that JPMorgan is an authorized participant for BlackRock's Spot Bitcoin ETF and JPMorgan funds hold Bitcoin, which suggests a complex relationship between the bank's business activities and Dimon's personal views on cryptocurrencies.