JPMorgan Chase CEO reiterates Bitcoin is a fraud, says BTC can never be a "currency"

Although he had previously stated during an interview with CNBC that he would not comment further on Bitcoin, the Bloomberg host still asked, and JPMorgan Chase CEO Jamie Dimon responded, maintaining the same view, reiterating that Bitcoin is a "fraud."

JPMorgan Chase CEO: Bitcoin Can Never Be a "Currency"

When asked about his views on cryptocurrencies, Jamie Dimon stated:

If you're talking about cryptocurrencies like Bitcoin, I've always said this is a fraud. If they are going to treat Bitcoin as a currency, it's doomed to fail. It's a Ponzi scheme, a Ponzi scheme disguised as decentralization. But if a cryptocurrency has some utility, smart contracts and blockchain have some value.

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Jamie Dimon's views remain the same as before. He recognizes two types of cryptocurrencies, one being those that incorporate smart contracts for buying and selling real estate or tokenizing assets.

The other type, such as Bitcoin, he deems useless, only serving speculative functions, along with illegal applications like money laundering, fraud, tax evasion, and illicit transactions.

Jamie Dimon of JPMorgan Chase: I don't know what Bitcoin is good for, will never buy