JPMorgan Chase CEO Jamie Dimon reiterated his longstanding skepticism about BTC regardless of his firm’s function within the BlackRock Bitcoin ETF.
Regardless of the cryptocurrency’s standing as probably the most useful when it comes to market capitalization, Dimon remained unswayed, questioning its intrinsic price. Below Dimon’s management, JPMorgan Chase has been recognized as a licensed participant for BlackRock’s newly accredited spot Bitcoin ETF, the iShares Bitcoin Trust.
“The actual use cases are sex trafficking, tax avoidance, anti-money laundering, terrorism financing; it’s not just people buying and selling bitcoin. There’s no value if you’re buying and selling Bitcoin.”
– Jamie Dimon, CEO of JPMorgan Chase
This involvement is a notable distinction to Dimon’s private views on cryptocurrency. His crucial perspective on digital currencies is well-documented; he has beforehand expressed to lawmakers that, have been he in a governmental place, he would search to curtail the expansion of cryptocurrencies. BlackRock’s current modification to its SEC submitting for its spot bitcoin ETF proposal additional cements this dichotomy.
The submitting consists of each Jane Road Capital and JPMorgan Securities LLC as licensed individuals, emphasizing JPMorgan’s rising function within the growing cryptocurrency ETF sector. The SEC’s approval of a number of ETF functions right now highlights the rising integration of cryptocurrencies into conventional monetary methods, a transfer JPMorgan seems poised to capitalize on regardless of Dimon’s private reservations.
Dimon presents a fancy state of affairs for JPMorgan’s strategy to future Bitcoin and cryptocurrency developments. Whereas the agency is strategically positioned to facilitate and profit from the expansion of Bitcoin ETFs, its CEO’s skepticism provides a way of uncertainty about its long-term engagement within the crypto market.
The submit JPMorgan CEO criticizes BTC despite backing BlackRock Bitcoin ETF first appeared on Investorempires.com.
