In brief

  • Jamie Dimon, the CEO of JPMorgan Chase, reiterated at a conference on Wednesday that he’s not a Bitcoin believer.
  • He did, however, refer to blockchain tech as a “critical” development in the way that money is handled.
  • Even if Dimon himself is out on Bitcoin, JPMorgan told investors just last month that "the potential long-term upside for Bitcoin is considerable.”

JPMorgan Chase CEO Jamie Dimon expressed his continued disinterest in Bitcoin at an event this morning, quipping that “it’s not my cup of tea.”

The event was the New York TimesDealbook summit, which is hosted by reporter Andrew Ross Sorkin; in addition to Dimon, today’s guests include Elizabeth Warren, Lebron James, and Ruth Porat, the CFO of Alphabet and Google.

He had more positive things to say about the blockchain itself, though, commenting that “the blockchain itself will be critical to letting people move money around the world cheaper,” and that JPMorgan will “always support blockchain technology.”

Dimon famously called Bitcoin a “fraud” back in 2017, so his comments today aren’t exactly surprising, even if they’re somewhat at odds with JPMorgan’s general ethos surrounding crypto.

Last month, the bank told investors that "the potential long-term upside for Bitcoin is considerable.”

Meanwhile, Bitcoin investors have continued to earn big payoffs this week, as the price hovers around $18,000 per coin.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.