JPMorgan CEO Jamie Dimon, widely known as one of the most vocal detractors of Bitcoin, said: said He said he would no longer comment on the largest cryptocurrency. He complained that he received “death threats” after making the headline-grabbing comments.
A long history of anti-Bitcoin comments
In 2017, the head of JPMorgan famously said he would fire anyone who tried to trade Bitcoin. In 2021, he called cryptocurrencies “worthless.”
Over the years, his stance has hardly softened. Last year, for example, he described major cryptocurrencies as a “Ponzi scheme.”
Blockchain, not Bitcoin
The head of the world’s most powerful bank remains quite bullish on blockchain, the technology behind Bitcoin.
The 69-year-old CEO believes this technology will replace certain inefficient legacy systems, but he also believes it is not the only solution.
Dimon also pointed out that decentralized permissionless blockchains are much harder to use because different parties have to be on the same page regarding different rules.
JPMorgan previously developed Quorum, a permissioned fork of Ethereum specifically designed for use by banking institutions. Quorum was then sold to Ethereum developer Consensys in August 2020.
In 2019, the banking giant also announced the “JPM Coin” project, which aims to settle payments for institutional investors. In late 2020, it founded a separate blockchain division called Onyx.
In 2025, the banking giant will move into the stablecoin space. In June, U.Today reportedhas applied for a trademark for the stablecoin-like “JPMD” token.
