Share this article
'Not My Cup of Tea': Jamie Dimon Is Still Not a Bitcoin Fan
The JPMorgan Chase CEO said it's only a matter of time before the government moves to regulate bitcoin.
By Danny Nelson
Updated Sep 14, 2021, 10:32 a.m. Published Nov 18, 2020, 3:17 p.m.
JPMorgan Chase CEO Jamie Dimon said blockchain will have a pivotal role in the future of finance even if bitcoin, the market-leading cryptocurrency that made blockchain famous, is not his "cup of tea."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking at the New York Times' DealBook Conference Wednesday, Dimon reiterated JPMorgan's support for blockchain technology as a potentially transformative financial mechanism.
"The blockchain itself will be critical to letting people move money around the world cheaper," he said. (His bank made waves recently with the launch of its "JPM Coin" for wholesale banking payments). "We will always support blockchain technology."
But Dimon refused to give ground on his opposition to bitcoin.
He repeated his longstanding belief that governments will ultimately more heavily regulate it (something echoed recently by fellow billionaire Ray Dalio). Oversight is inevitable for something so large, he said.
Even so, Dimon acknowledged that "very smart people" are buying into the cryptocurrency in the belief that it will outperform gold, the U.S. dollar and U.S. Treasury bonds.
"Let them do that," he said. "It's just not my cup of tea."
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
