On January 19th, Chairman and CEO of JPMorgan Chase, Jamie Dimon, was interviewed on CNBC's morning talk show, Squawk Box, regarding cryptocurrency and Bitcoin.
As the host of the show brought up Bitcoin, Dimon immediately became hostile towards the subject.
He went on to say that "Bitcoin itself is a hyped-up fraud" and even likened it to the "Pet Rock"; which was essentially a gimmick toy, that actually made the creator millions.
The Chairman and CEO was clearly not comfortable to talk about Bitcoin and put an end to the discussion by rudely saying “I don’t care about bitcoin so we should drop this subject".
Here is the video of the awkward exchange:
How do you know it’s going to stop at 21 million? Maybe it’s going to get to 21 million and Satoshi’s picture is going to come up and laugh at you all … and by then Satoshi would have taken out billions of dollars.
Jamie Dimon - Chairman and CEO of JPMorgan Chase
Jamie Dimon was even questioning whether Bitcoin will even stop at the 21 million cap, and implies that Satoshi could possibly be scamming everyone.
Within the same conversation, Jamie Dimon says that blockchain is a perfectly fine technology to use, but then claims Bitcoin is a scam and even calls crypto a "decentralized Ponzi scheme."
The CEO then followed that up by saying point blank "crypto itself doesn't do anything".
Towards the end of the discussion, Dimon makes an extremely bold statement regarding crypto, that "regulators should've put a stop to this a long time ago. People have lost billions of dollars".
It seems that Jamie Dimon knows better than everyone else with these pompous answers.
Maybe we should all just listen to Jamie and we will all be more financially sound.
What was your initial reaction to the interview and Jamie Dimon's comments?
Do you agree or disagree with the Chairman and CEO of JPMorgan Chase?
If you have made it this far and enjoyed the post, please consider hitting the Thumbs Up ?? and Follow buttons!
If you want to be even more awesome, please Tip before you go!
And while you're at it, Enter my Monthly Giveaway on PUBLISH0X to win yourself some free Crypto!
It takes 5 seconds to enter!
