Jamie Dimon says bitcoin has 'no intrinsic value'

Jamie Dimon, CEO of JPMorgan Chase, believes people have the right to buy and sell Bitcoin but advises against it. In a CBS News interview, he stated, "Bitcoin itself has no intrinsic value," and expressed concerns about its use in illegal activities.

Dimon previously labeled Bitcoin a "fraud" and "Ponzi scheme." He compared its purchase to smoking: "I applaud your ability to want to buy or sell it, just like I think you have the right to smoke. But I don’t think you should smoke." These comments come as cryptocurrencies face increased scrutiny for their association with crime.