🚨BREAKING NEWS🚨
JP Morgan’s Jamie Dimon has said that he would close down #Bitcoin and crypto if he were the Government
— Grit Capital (@Grit_Capital) December 6, 2023
CNBC: Jamie Dimon lashes out against crypto: ‘If I was the government, I’d close it down’
JPMorgan Chase
CEO Jamie Dimon lashed out at bitcoin and its peers, suggesting in remarks Wednesday on Capitol Hill that cryptocurrencies should be banned.
“I’ve always been deeply opposed to crypto, bitcoin, etc.,” the head of the largest U.S. bank by assets said under questioning from Sen. Elizabeth Warren, D-Mass., during a Senate Banking Committee hearing. “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.”
“If I was the government, I’d close it down,” he added.
The remarks are the latest broadside from Dimon against cryptocurrencies, though his bank is heavily involved in blockchain, the enabling technology for the $1.6 trillion industry.
Could this become a massive sell the news event?
Possibly.
However, history has proven that when Bitcoin runs, it runs.
The approval of Bitcoin ETFs may already be priced-in to crypto markets.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) December 6, 2023