- JPMorgan Chase CEO recently highlighted his views on cryptocurrencies in a recent interview, he has been a crypto skeptic.
- Despite the skepticism, he does see some benefits in the technology.
- JP Morgan Chase has their own digital currency called JPM Coin.
Jamie Dimon, JPMorgan Chase CEO, recently discussed cryptocurrencies in an interview with KMTV 3 News Now in Omaha Friday prior to the Berkshire Hathaway annual shareholders meeting.
He highlighted on Bitcoin that he always says he doesn’t particularly like it. And that he defends one’s right to do it. He would say be very, very careful how much money you put into it.
Though he does see benefits in some aspects of the asset class like its technology, further admits that the banking sector has its inefficiencies. He highlighted that not all of it is bad. And talked about how transactions via digital currencies take seconds.
He also said that he thinks it will be adopted over time by lots of players out there, including banks. Though he did not specify what he is referring to, stablecoins, cryptocurrencies, central bank digital currencies (CBDCs), or his own JPM Coin.
JPM Coin is JP Morgan Chase’s own digital currency. According to Dimon, they utilize a blockchain namely Link, to allow banks to share complex information. And they also use a blockchain to move tokenized US Dollar deposits with the coin.
Dimon was one of the entities not so sure about crypto and Bitcoin, as he had earlier wanted folks to be careful while investing in the asset class. He even noted Bitcoin to be worthless and raised questions about its limited supply.
Skepticism has always hovered around cryptocurrencies and related concepts. But it cannot be denied that Bitcoin and other altcoins have made a significant position in the world of finance globally. While there are some who are firm critics of digital assets, there are also some who see massive potential in them. Only time could answer how digital assets would evolve in the future.
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Source: https://www.thecoinrepublic.com/2022/05/01/skeptical-regarding-crypto-but-still-sees-some-benefits-highlights-jamie-dimon/