IDuring his recent appearance on CBS’ “60 Minutes,” JPMorgan Chase Chairman and CEO Jamie Dimon reiterated his critical views on Bitcoin and cryptocurrencies.

Dimon described Bitcoin as “a Ponzi scheme” and “as useless as a pet rock,” underscoring his longstanding skepticism about the digital currency.

Dimon expressed concerns about Bitcoin’s lack of intrinsic value and its connection to illegal activities. “I just don’t have a good feeling about Bitcoin,” he noted during the interview.

He continued to address topics such as its use in money laundering, ransomware attacks and even sex trafficking. Dimon’s comments are consistent with his previous criticism of Bitcoin, which he has previously called a “scam” and compared to pyramid schemes.

Despite his harsh words towards Bitcoin, Dimon acknowledged that digital currencies have the potential to play a significant role in the future of finance.

“At some point we will have some kind of digital currency,” he explained, suggesting that the financial industry is moving toward more regulated and centralized forms of digital assets. However, he reiterated that he does not see Bitcoin as a viable or sustainable option.

Dimon also emphasized that while individuals are free to invest in cryptocurrencies, he does not believe it is a wise decision. “I welcome your ability to want to buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke!” he quipped.

This interview is the latest in a series of public criticisms of Bitcoin from Dimon. His comments continue to spark debate in the financial world, especially as cryptocurrencies gain traction among institutional investors and the general public.

While Dimon’s views resonate with skeptics, Bitcoin proponents argue that decentralized digital currencies represent a transformative alternative to traditional financial systems.

JPMorgan Chase itself has taken a more nuanced approach to cryptocurrencies.

While Dimon personally remains critical, the bank has been exploring blockchain technology and offering Bitcoin-related products to certain customers, reflecting the complex and evolving relationship between traditional finance and digital assets.

Dimon’s comments come at a time when the cryptocurrency market is under increasing scrutiny from regulators worldwide.

As discussions about the future of digital currencies continue, Dimon’s voice remains one of the most influential in finance, shaping the narrative around Bitcoin and its role in the global economy.

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