JP Morgan Chase CEO Jamie Dimon still doesn't like Bitcoin – but he respects your decision to invest in Bitcoin.
Wall Street's top banker has long been a critic of cryptocurrency, claiming that the “real use case for it is criminals, drug traffickers, money laundering and tax avoidance.” Today, at the Australian Financial Review economic summit, the head of America's largest bank continued to criticize the asset, according to Reuters.
But he added: “I don’t know what the Bitcoin itself is for, but I will defend your right to smoke a cigarette, I will defend your right to buy a Bitcoin.”
He then returned to form and asked why governments were putting up with cryptocurrency.
In January, Dimon said he would never talk about Bitcoin again – at least on CNBC. He has repeatedly criticized the largest digital coin – and smaller virtual tokens – over the years.
Last year he said he would “shut it down” if he were the government. “I have always been an opponent of cryptocurrencies, Bitcoin, etc.,” he said.
In 2017, he also called Bitcoin a “fraud” and criticized his own daughter for buying some of the largest cryptocurrencies by market capitalization.
Despite the Bitcoin criticism, Dimons Bank uses blockchain technology with its JPM Coin payment system.
The billionaire is a big fan of artificial intelligence and said the coming AI boom will mean “your children will live to be 100 years old and no longer have cancer thanks to technology.”
Dimon reportedly added at the conference today that he uses AI at home and at work – including to summarize books he doesn't have time to read.
Edited by Ryan Ozawa.
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