{"id":13084,"date":"2021-10-12T02:54:05","date_gmt":"2021-10-12T02:54:05","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-boss-jamie-dimon-says-bitcoin-is-worthless-questions-btcs-limited-supply\/"},"modified":"2021-10-12T02:54:05","modified_gmt":"2021-10-12T02:54:05","slug":"jpmorgan-boss-jamie-dimon-says-bitcoin-is-worthless-questions-btcs-limited-supply","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-boss-jamie-dimon-says-bitcoin-is-worthless-questions-btcs-limited-supply\/","title":{"rendered":"JPMorgan Boss Jamie Dimon Says Bitcoin Is Worthless, Questions BTC\u2019s Limited Supply"},"content":{"rendered":"

The CEO of global investment bank JPMorgan, Jamie Dimon, says bitcoin is \u201cworthless,\u201d questioning whether the supply of bitcoin is actually limited. He also noted that blockchain and stablecoins can be real, emphasizing that governments are going to regulate the industry.<\/strong><\/p>\n

Bitcoin Is Worthless and Supply May Not Be Capped, JPMorgan CEO Jamie Dimon Suggested<\/h2>\n

JPMorgan CEO Jamie Dimon reiterated his anti-bitcoin stance Monday at the 2021 Institute of International Finance (IIF) Annual Membership Meeting, which was held virtually.<\/p>\n

\u201cBlockchain can be real, stablecoins can be real,\u201d Dimon said<\/a>. \u201cNo matter what anyone in the room thinks, nor what any libertarian thinks, nor what anyone thinks about it, government\u2019s going to regulate it.\u201d He opined:<\/p>\n

I personally think that bitcoin is worthless.<\/p>\n

But, \u201cI don\u2019t want to be a spokesperson. I don\u2019t care. It makes no difference to me,\u201d he added.<\/p>\n

Nonetheless, the JPMorgan boss emphasized: \u201cOur clients are adults. They disagree. That\u2019s what makes markets, so if they want to have access to buy yourself bitcoin, we can\u2019t custody it but we can give them legitimate, as clean as possible, access.\u201d<\/p>\n

The JPMorgan CEO has long been a bitcoin skeptic. Earlier this month, he said<\/a> bitcoin had no intrinsic value and regulators will \u201cregulate the hell out of it.\u201d In May, he advised people to \u201cstay away\u201d from cryptocurrency. Despite Dimon\u2019s anti-crypto stance, JPMorgan is currently offering<\/a> several cryptocurrency investments to clients.<\/p>\n

Dimon reportedly<\/a> went on to question bitcoin\u2019s scarcity, specifically the cryptocurrency\u2019s supply of 21 million coins, stating:<\/p>\n

I\u2019ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don\u2019t know, I\u2019ve always been a skeptic of stuff like that.<\/p>\n

Many people took to Twitter to comment on Dimon\u2019s statement about the BTC<\/a> supply. Some people expressed that they could not believe Dimon actually made the above statement while others posted the code for the JPMorgan executive to see.<\/p>\n

Coinbase CEO Brian Armstrong simply tweeted: \u201cYes, I read it. And then I wrote it (coding up our own Bitcoin node) to make sure I understand it.\u201d<\/p>\n

Galaxy Digital CEO Mike Novogratz commented: \u201cSo strange. For a man who has done a brilliant job running a giant bank, his answers around BTC<\/a> are sophomoric and he keeps doubling down on them. I pray I stay open-minded my whole life.\u201d<\/p>\n

Shapeshift founder Erik Voorhees wrote, \u201cNever attribute to malice that which is adequately explained by stupidity.\u201d Venture investor Stephen Cole opined, \u201cEven the richest, most influential people in the world are clueless on Bitcoin.\u201d<\/p>\n

What do you think about Jamie Dimon\u2019s comments about bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, 21 million, bitcoin limited supply, bitcoin’s limited supply, Jamie Dimon, jamie dimon bitcoin, jpmorgan, jpmorgan bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

The CEO of global investment bank JPMorgan, Jamie Dimon, says bitcoin is \u201cworthless,\u201d questioning whether the supply of bitcoin is actually limited. He also noted that blockchain and stablecoins can be real, emphasizing that governments are going to regulate the industry. Bitcoin Is Worthless and Supply May Not Be Capped, JPMorgan CEO Jamie Dimon Suggested…<\/p>\n","protected":false},"author":0,"featured_media":13085,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13084"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13084"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13085"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}