JP Morgan Chase CEO Jamie Dimon still doesn't like Bitcoin – but respects their decision to invest in it.
A senior Wall Street banker has been a long-time critic of cryptocurrency, saying, “The real issue is criminals, drug dealers, money laundering, tax evasion.” Even today, at the Australian Financial Review's business meeting, the boss of America's biggest bank continued to criticize the asset, Reuters reported.
But he added: “I don't know what Bitcoin itself is, but I defend your right to smoke, I defend your right to buy Bitcoin.”
He then went back to work asking why governments tolerate cryptocurrency.
In January, Dimon said he would never talk about Bitcoin again—at least not on CNBC. Over the years, it has repeatedly issued the largest digital coin and smaller virtual tokens.
Last year, he said, “If I were the government, I would shut down.” “I was always against crypto, Bitcoin, et cetera,” he said.
He also called Bitcoin a “fraud” in 2017, and criticized his own daughter, who bought some of the largest cryptocurrency in the market.
Despite criticism of Bitcoin, Demon Bank uses blockchain technology with its payment system, JPM Coin.
The billionaire is a big fan of artificial intelligence, and says the coming AI boom means “your kids won't get cancer and will be 100 because of technology.”
At today's conference, Dimon added that he will use AI at home and at work – including books that people don't have time to read.
Edited by Ryan Ozawa.
Stay on top of crypto news, get daily updates in your inbox.
