{"id":14705,"date":"2021-11-26T01:54:12","date_gmt":"2021-11-26T01:54:12","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-ceo-jamie-dimon-warns-people-to-be-careful-when-investing-in-crypto-citing-no-intrinsic-value\/"},"modified":"2021-11-26T01:54:12","modified_gmt":"2021-11-26T01:54:12","slug":"jpmorgan-ceo-jamie-dimon-warns-people-to-be-careful-when-investing-in-crypto-citing-no-intrinsic-value","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-ceo-jamie-dimon-warns-people-to-be-careful-when-investing-in-crypto-citing-no-intrinsic-value\/","title":{"rendered":"JPMorgan CEO Jamie Dimon Warns People to Be Careful When Investing in Crypto Citing \u2018No Intrinsic Value\u2019"},"content":{"rendered":"

The CEO of global investment bank JPMorgan has warned investors about investing in cryptocurrency. \u201cCryptocurrency has no intrinsic value. You are basically buying a token,\u201d he said. \u201cI would be very careful.\u201d<\/strong><\/p>\n

JPMorgan Boss Jamie Dimon Warns About Investing in Crypto<\/h2>\n

JPMorgan Chase and Co\u2019s (JPM.N) chief executive officer, Jamie Dimon, shared his thoughts on the U.S. economy, inflation, China, and cryptocurrency in an interview with CBS Boston, published Wednesday.<\/p>\n

He was asked whether young people should invest in crypto in reference to several commercials encouraging investors to put money in cryptocurrencies, such as a commercial<\/a> featuring Tom Brady and his wife Gisele Bundchen.<\/p>\n

\u201cI\u2019m a skeptic,\u201d Dimon replied. \u201cI mean blockchain is real if we use it for certain things. Parts of defi (decentralized finance) are real.\u201d However, the JPMorgan boss emphasized:<\/p>\n

Cryptocurrency has no intrinsic value. You are basically buying a token. Why it has a lot of that I don\u2019t know, and I think there\u2019s so much speculation taking place in stocks and securities and crypto and stuff like that. I would be very careful.<\/p>\n

Nonetheless, Dimon said: \u201cI defend people\u2019s right to do it in a free country. I\u2019m not going to do it.\u201d<\/p>\n

On Tuesday, Reuters also reported Dimon commenting on cryptocurrency. \u201cIt is not really a currency \u2026 It is hysteria,\u201d the JPMorgan CEO was quoted as saying.<\/p>\n

Dimon has always been a bitcoin skeptic. In October, he said that bitcoin is \u201cworthless<\/a>,\u201d questioning the cryptocurrency\u2019s limited supply. He also said regulators will \u201cregulate<\/a> the hell out of it.\u201d In May, he advised people to stay away<\/a> from cryptocurrency.<\/p>\n

However, the CEO of JPMorgan acknowledged that his clients are interested<\/a> in this asset class and the bank is now offering some crypto investments to clients.<\/p>\n

The firm\u2019s analysts even doubled down on their prediction<\/a> that the price of bitcoin will hit $146K in the long term. They see a \u201cbullish outlook<\/a>\u201d for bitcoin as inflation concerns push the price of BTC<\/a> higher.<\/p>\n

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

Bitcoin News
\nNews, Jamie Dimon, jamie dimon bitcoin, jamie dimon crypto, jamie dimon cryptocurrency, JP Morgan, jpmorgan, jpmorgan ceo<\/p>\n","protected":false},"excerpt":{"rendered":"

The CEO of global investment bank JPMorgan has warned investors about investing in cryptocurrency. \u201cCryptocurrency has no intrinsic value. You are basically buying a token,\u201d he said. \u201cI would be very careful.\u201d JPMorgan Boss Jamie Dimon Warns About Investing in Crypto JPMorgan Chase and Co\u2019s (JPM.N) chief executive officer, Jamie Dimon, shared his thoughts on…<\/p>\n","protected":false},"author":0,"featured_media":14706,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14705","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\/14705"}],"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=14705"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14706"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}