QZ.COM
Bitcoin

Jamie Dimon says bitcoin has 'no intrinsic value'

SUMMARY

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.


▶︎ Click here for more breaking news