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The CEO of the global investment bank JP Morgan Chase warned investors not to invest in cryptocurrencies. “Cryptocurrency has no intrinsic value. You are basically buying tokens,” he said. “I will be very careful.”
JPMorgan Chase boss Jamie Dimon warns of investing in cryptocurrencies
JPMorgan Chase (JPM.N) CEO Jamie Dimon shared his views on the U.S. economy, inflation, China and cryptocurrency in an interview with CBS Boston on Wednesday.
He was asked whether young people should invest in cryptocurrency because he mentioned some commercial advertisements that encourage investors to invest in cryptocurrency, such as commercial Tom Brady and his wife Gisele Bundchen.
“I am a skeptic,” Dimon replied. “I mean, if we use blockchain for certain things, it is real. Part of defi (decentralized finance) is real.” However, the boss of JPMorgan Chase emphasized:
Cryptocurrency has no intrinsic value. You are basically buying tokens. Why it has a lot of things that I don’t know, and I think there is a lot of speculation in stocks, securities, and cryptocurrencies. I will be very careful.
Despite this, Dimon said: “I defend the right of people to do this in a free country. I will not do this.”
On Tuesday, Reuters also reported Dimon’s comments on cryptocurrencies. “It’s not real currency…it’s hysterical,” the CEO of JPMorgan Chase was quoted as saying.
Dimon has always been a Bitcoin skeptic. In October, he said that Bitcoin is “Worthless,” questioned the limited supply of cryptocurrencies. He also stated that the regulator would “adjust Go to hell. In May, he advised people keep away From cryptocurrency.
However, the CEO of JPMorgan Chase admitted that his clients are Interested in In this asset class, banks now offer some crypto investments to customers.
The company’s analysts even pay more attention to their prophecy In the long run, the price of Bitcoin will reach $146,000. They see a “Bullish outlook“For Bitcoin, the price of Bitcoin is pushed up because of inflation concerns Bitcoin higher.
What do you think of the warning from Jamie Dimon, CEO of JPMorgan Chase? Please let us know in the comments section below.
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