JPMorgan CEO Jamie Dimon Skeptical of Crypto however Says ‘Not All of It Is Bad’ – Featured Bitcoin News
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Jamie Dimon, the CEO of JPMorgan Chase, says that he could do without crypto yet will protect your entitlement to put resources into it. Notwithstanding, he sees benefits in certain parts of computerized currency.
JPMorgan’s Jamie Dimon on Crypto, Digital Currency
JPMorgan Chase CEO Jamie Dimon discussed cryptographic money in a meeting with KMTV 3 News Now in Omaha Friday in front of the Berkshire Hathaway yearly investors meeting this weekend.
Commenting on digital money, including bitcoin, the JPMorgan manager said:
I generally say I could do without it. I protect your entitlement to get it done. I’d say be extremely, cautious how much cash you put into it.
However, Dimon sees benefits in certain parts of crypto, for example, its innovation, conceding that the financial business has its shortcomings. The leader opined:
Not every last bit of it is terrible. Assuming you shared with me ‘I want to send $200 to a friend in a foreign country,’ that could take both of you weeks and cost you $40. You could do it through a computerized money and it’ll take you seconds.
“So, it’ll work out. I think it will be adopted over time by lots of players out there, including banks,” he closed. Nonetheless, he didn’t indicate whether he is alluding to cryptographic forms of money, stablecoins, national bank computerized monetary standards (CBDCs), or his own JPM Coin.
JPMorgan Chase has its own advanced cash called JPM Coin. Dimon recently portrayed: “We use a blockchain network called Liink to enable banks to share complex information, and we also use a blockchain to move tokenized U.S. dollar deposits with JPM Coin.” The JPM Coin site expresses that the coin “facilitates real-time value movement, helping to solve common hurdles of traditional cross-border payments.”
Dimon has for some time been a bitcoin and crypto doubter. In November last year, he cautioned individuals to be cautious while putting resources into crypto refering to that it has no natural worth. In October, he said bitcoin was useless and scrutinized its restricted supply.
Meanwhile, he said in his April letter to investors that decentralized money (defi) and blockchain are genuine. Moreover, JPMorgan is currently offering various crypto venture products.
What do you ponder Jamie Dimon’s remarks? Tell us in the remarks area below.
Kevin Helms
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