Jamie Dimon, a known critic of Bitcoin, acknowledged the right of individuals to invest in virtual currencies, but expressed concerns about the connection between Bitcoin and illegal activities.
After years of criticism, JPMorgan CEO Jamie Dimon now appears to support individuals' right to buy Bitcoin (BTC).
In a recent interview with CNBC, Dimon highlighted ongoing issues surrounding cryptocurrencies' involvement in illegal activities such as fraud and terrorism. Despite these concerns, he emphasized that he is willing to defend the right of individuals to purchase cryptocurrencies, although he seems personally hesitant to do so.
“I don’t know what Bitcoin itself is for, but I will protect your right to smoke, I will protect your right to buy Bitcoin. I have no intention of buying it.”
jamie dimon
This is Dimon's second time publicly discussing Bitcoin, following his statement in January that he was done talking about the cryptocurrency.
“This is the last time we'll talk about this. [Bitcoin] God help me because I'm with CNBC. ”
Jamie Dimon speaks with CNBC at the 2024 World Economic Forum in Davos
However, his latest comments appear to contradict previous statements, such as when he claimed he would shut down Bitcoin and other cryptocurrencies if he represented the American people in December 2023. The statement was made during a Congressional hearing in response to concerns raised by Sen. Elizabeth Warren, a vocal critic of cryptocurrencies, regarding crypto regulation and compliance. However, as Chainalysis has previously revealed, less than 1% of cryptocurrency transactions are actually tied to illegal activity.
At the time of writing, Bitcoin was trading at $72,110, up more than 70% since the beginning of the year, according to data from Yahoo Finance.
